Hub Group (NASDAQ:HUBG) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $74.00 price objective on the transportation company's stock. Zacks Investment Research's price objective indicates a potential upside of 11.65% from the stock's current price.
According to Zacks, "Hub Group, Inc. is a transportation management company that provides multi-modal solutions throughout North America, including intermodal, truck brokerage, dedicated and logistics services. The company is one of the largest over-the-road brokers in North America. The Company arranges for the movement of its customers' freight in containers and trailers over long distances. Hub Group operates through a nationwide network of hubs, located near significant concentrations of shipping customers and railheads. As a publicly traded company, Hub Group delivers innovative, customer-focused solutions and industry leading service to help customers better control supply chains and their costs. It operates through a nationwide network of hubs, located near significant concentrations of shipping customers and railheads. The company is headquartered in Cambridge, MA. "
A number of other research analysts have also recently issued reports on HUBG. Susquehanna Bancshares raised their price target on shares of Hub Group from $79.00 to $83.00 and gave the stock a "positive" rating in a report on Thursday, May 6th. Cowen raised their target price on shares of Hub Group from $77.00 to $83.00 and gave the stock an "outperform" rating in a report on Tuesday, June 22nd. Wells Fargo & Company raised their target price on shares of Hub Group from $81.00 to $86.00 and gave the stock an "overweight" rating in a report on Friday. Susquehanna raised their target price on shares of Hub Group from $79.00 to $83.00 and gave the stock a "positive" rating in a report on Thursday, May 6th. Finally, KeyCorp raised their target price on shares of Hub Group from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, May 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of "Buy" and an average price target of $74.91.
HUBG traded up $0.43 during trading on Friday, hitting $66.28. The stock had a trading volume of 304,670 shares, compared to its average volume of 215,560. The stock has a market cap of $2.28 billion, a P/E ratio of 28.69 and a beta of 1.01. Hub Group has a twelve month low of $47.18 and a twelve month high of $74.95. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.13. The business's 50 day simple moving average is $66.75.
Hub Group (NASDAQ:HUBG) last announced its earnings results on Thursday, July 29th. The transportation company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.71 by $0.07. Hub Group had a net margin of 2.17% and a return on equity of 7.80%. On average, sell-side analysts anticipate that Hub Group will post 3.38 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of HUBG. Norges Bank purchased a new stake in shares of Hub Group in the 4th quarter valued at approximately $35,765,000. Loomis Sayles & Co. L P purchased a new stake in shares of Hub Group in the 1st quarter valued at approximately $33,367,000. BlackRock Inc. raised its stake in shares of Hub Group by 5.1% in the 1st quarter. BlackRock Inc. now owns 6,240,935 shares of the transportation company's stock valued at $419,889,000 after acquiring an additional 304,431 shares during the period. Boston Partners purchased a new stake in shares of Hub Group in the 1st quarter valued at approximately $18,854,000. Finally, Morgan Stanley raised its stake in shares of Hub Group by 252.2% in the 4th quarter. Morgan Stanley now owns 316,435 shares of the transportation company's stock valued at $18,036,000 after acquiring an additional 226,586 shares during the period. 89.73% of the stock is currently owned by institutional investors.
About Hub Group
Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, truck brokerage, trucking, managed transportation, freight consolidation, warehousing, last mile delivery, international transportation, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers' freight in containers and trailers over distances of 750 miles or more.
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