J.B. Hunt Transport Services (NASDAQ:JBHT) Given New $280.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on J.B. Hunt Transport Services to $280 from $227 and kept an overweight rating on the stock.
• Other analysts have also been adjusting their views, with several raising price targets; overall, J.B. Hunt now has a Moderate Buy consensus and an average target price of $253.65.
• The company recently reported better-than-expected quarterly results, including EPS of $1.49 versus $1.45 expected and revenue of $3.06 billion, while insider selling and strong institutional ownership were also noted.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $227.00 to $280.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 0.27% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial reiterated an "outperform" rating and set a $240.00 target price on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 15th. TD Cowen boosted their price target on shares of J.B. Hunt Transport Services from $209.00 to $228.00 and gave the company a "hold" rating in a research report on Thursday, April 16th. The Goldman Sachs Group upped their price objective on shares of J.B. Hunt Transport Services from $212.00 to $239.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wall Street Zen raised shares of J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a report on Sunday, June 7th. Finally, Barclays lifted their target price on shares of J.B. Hunt Transport Services from $235.00 to $270.00 and gave the company an "equal weight" rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, J.B. Hunt Transport Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.65.

J.B. Hunt Transport Services Price Performance

NASDAQ:JBHT traded down $3.38 during trading hours on Friday, reaching $279.24. The company had a trading volume of 304,954 shares, compared to its average volume of 1,004,464. The stock has a 50-day moving average of $269.60 and a two-hundred day moving average of $234.87. J.B. Hunt Transport Services has a one year low of $130.12 and a one year high of $294.98. The firm has a market capitalization of $26.33 billion, a PE ratio of 43.29, a PEG ratio of 2.05 and a beta of 1.29. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. J.B. Hunt Transport Services had a return on equity of 17.30% and a net margin of 5.13%.The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. Analysts forecast that J.B. Hunt Transport Services will post 7.29 earnings per share for the current year.

Insider Activity at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP Brian Webb sold 1,500 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $284.01, for a total transaction of $426,015.00. Following the completion of the sale, the executive vice president directly owned 15,881 shares of the company's stock, valued at approximately $4,510,362.81. The trade was a 8.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Keefauver sold 703 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $285.13, for a total transaction of $200,446.39. Following the completion of the transaction, the executive vice president owned 790 shares in the company, valued at $225,252.70. This represents a 47.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,119 shares of company stock valued at $4,736,095 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of J.B. Hunt Transport Services

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of J.B. Hunt Transport Services by 411.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,799,843 shares of the transportation company's stock worth $258,457,000 after acquiring an additional 1,447,993 shares in the last quarter. Norges Bank bought a new stake in shares of J.B. Hunt Transport Services in the fourth quarter worth $200,587,000. Bessemer Group Inc. lifted its position in shares of J.B. Hunt Transport Services by 75,567.4% in the fourth quarter. Bessemer Group Inc. now owns 1,006,377 shares of the transportation company's stock worth $195,580,000 after purchasing an additional 1,005,047 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in J.B. Hunt Transport Services by 338.0% during the third quarter. Qube Research & Technologies Ltd now owns 823,089 shares of the transportation company's stock worth $110,434,000 after purchasing an additional 635,172 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in J.B. Hunt Transport Services by 272.8% during the fourth quarter. Wellington Management Group LLP now owns 747,377 shares of the transportation company's stock worth $145,245,000 after purchasing an additional 546,880 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company's stock.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc is a leading provider of transportation and logistics solutions headquartered in Lowell, Arkansas. The company offers a comprehensive suite of services designed to move freight efficiently across North America, including intermodal, dedicated contract services, full truckload, less-than-truckload (LTL), final mile delivery and specialized transport.

In its intermodal segment, J.B. Hunt leverages a network of rail and truck assets to transport containers and trailers on major U.S.

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