J.B. Hunt Transport Services (NASDAQ:JBHT) Shares Gap Up Following Analyst Upgrade

Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Get Free Report) gapped up before the market opened on Wednesday after Truist Financial raised their price target on the stock from $140.00 to $145.00. The stock had previously closed at $148.86, but opened at $157.84. Truist Financial currently has a hold rating on the stock. J.B. Hunt Transport Services shares last traded at $150.19, with a volume of 657,982 shares.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their price target on J.B. Hunt Transport Services from $159.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday. Stephens cut 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. UBS Group reiterated a "buy" rating on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 8th. Robert W. Baird assumed coverage on J.B. Hunt Transport Services in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $169.00 price objective on the stock. Finally, Stifel Nicolaus set a $150.00 price objective on J.B. Hunt Transport Services in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.90.

Insiders Place Their Bets

In related news, COO Nicholas Hobbs acquired 1,529 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was acquired at an average price of $130.75 per share, with a total value of $199,916.75. Following the acquisition, the chief operating officer directly owned 91,847 shares in the company, valued at $12,008,995.25. This represents a 1.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

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

A number of large investors have recently bought and sold shares of the business. Truist Financial Corp raised its holdings in shares of J.B. Hunt Transport Services by 32.5% during the second quarter. Truist Financial Corp now owns 14,122 shares of the transportation company's stock valued at $2,028,000 after acquiring an additional 3,463 shares during the last quarter. Greenleaf Trust raised its holdings in shares of J.B. Hunt Transport Services by 8.1% during the second quarter. Greenleaf Trust now owns 1,495 shares of the transportation company's stock valued at $215,000 after acquiring an additional 112 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of J.B. Hunt Transport Services during the second quarter valued at approximately $244,000. V Square Quantitative Management LLC raised its holdings in shares of J.B. Hunt Transport Services by 21.6% during the second quarter. V Square Quantitative Management LLC now owns 3,178 shares of the transportation company's stock valued at $456,000 after acquiring an additional 565 shares during the last quarter. Finally, Financial Partners Group LLC raised its holdings in shares of J.B. Hunt Transport Services by 2.3% during the second quarter. Financial Partners Group LLC now owns 9,435 shares of the transportation company's stock valued at $1,355,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company's stock.

J.B. Hunt Transport Services Stock Down 2.5%

The business has a fifty day simple moving average of $144.65 and a 200 day simple moving average of $151.36. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.89.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). The company had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.93 billion. J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. J.B. Hunt Transport Services's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. As a group, equities analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.76 annualized dividend and a dividend yield of 1.18%. J.B. Hunt Transport Services's dividend payout ratio is currently 32.00%.

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.