Bank of America Raises J.B. Hunt Transport Services (NASDAQ:JBHT) Price Target to $171.00

J.B. Hunt Transport Services (NASDAQ:JBHT - Free Report) had its price objective lifted by Bank of America from $166.00 to $171.00 in a research note published on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the transportation company's stock.

JBHT has been the subject of a number of other research reports. Sanford C. Bernstein set a $148.00 target price on shares of J.B. Hunt Transport Services and gave the stock a "market perform" rating in a research report on Wednesday, April 16th. Stifel Nicolaus set a $150.00 target price on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 16th. Robert W. Baird assumed coverage on J.B. Hunt Transport Services in a research note on Tuesday, July 1st. They set an "outperform" rating and a $169.00 price target for the company. The Goldman Sachs Group set a $164.00 price target on J.B. Hunt Transport Services in a research note on Tuesday. Finally, Stephens lowered their price objective on J.B. Hunt Transport Services from $170.00 to $165.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.43.

J.B. Hunt Transport Services Stock Down 0.7%

J.B. Hunt Transport Services stock traded down $1.09 on Thursday, hitting $153.57. 884,745 shares of the stock traded hands, compared to its average volume of 1,001,457. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23. The firm has a market cap of $15.23 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. The business's fifty day simple moving average is $142.58 and its 200 day simple moving average is $152.19. J.B. Hunt Transport Services has a 1 year low of $122.79 and a 1 year high of $200.40.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The transportation company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.02. J.B. Hunt Transport Services had a return on equity of 14.07% and a net margin of 4.65%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.92 billion. As a group, sell-side analysts forecast that J.B. Hunt Transport Services will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, May 9th. This represents a $1.76 annualized dividend and a dividend yield of 1.15%. J.B. Hunt Transport Services's dividend payout ratio (DPR) is 31.94%.

Insider Activity

In related news, COO Nicholas Hobbs bought 1,529 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were purchased at an average price of $130.75 per share, with a total value of $199,916.75. Following the transaction, the chief operating officer owned 91,847 shares in the company, valued at $12,008,995.25. This trade represents a 1.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On J.B. Hunt Transport Services

Several large investors have recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of J.B. Hunt Transport Services by 8.0% during the 4th quarter. Signaturefd LLC now owns 820 shares of the transportation company's stock valued at $140,000 after purchasing an additional 61 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of J.B. Hunt Transport Services by 13.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company's stock valued at $108,000 after purchasing an additional 85 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of J.B. Hunt Transport Services by 38.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company's stock valued at $45,000 after purchasing an additional 88 shares during the last quarter. Wahed Invest LLC increased its position in shares of J.B. Hunt Transport Services by 4.6% during the 4th quarter. Wahed Invest LLC now owns 2,080 shares of the transportation company's stock valued at $355,000 after purchasing an additional 91 shares during the last quarter. Finally, Man Group plc increased its stake in J.B. Hunt Transport Services by 0.9% in the fourth quarter. Man Group plc now owns 11,165 shares of the transportation company's stock worth $1,905,000 after purchasing an additional 98 shares during the period. Institutional investors own 74.95% of the company's stock.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.