J.B. Hunt Transport Services (NASDAQ:JBHT) Shares Gap Down Following Analyst Downgrade

Key Points

• J.B. Hunt shares fell sharply after Wells Fargo cut its price target from $335 to $305, with the stock opening at $242.89 versus a prior close of $273.05.
• Analyst sentiment remains broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $286.61, despite mixed recent target adjustments.
• The company reported strong quarterly results, with adjusted earnings of $1.91 per share and revenue of $3.50 billion, surpassing estimates and marking 19.4% year-over-year revenue growth.

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Get Free Report) gapped down prior to trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $335.00 to $305.00. The stock had previously closed at $273.05, but opened at $242.89. Wells Fargo & Company currently has an overweight rating on the stock. J.B. Hunt Transport Services shares last traded at $238.5420, with a volume of 823,298 shares trading hands.

Other equities analysts have also recently issued reports about the company. Wall Street Zen upgraded J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a report on Sunday. Robert W. Baird boosted their price target on shares of J.B. Hunt Transport Services from $290.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Barclays reduced their price target on shares of J.B. Hunt Transport Services from $300.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Wednesday. The Goldman Sachs Group set a $261.00 price objective on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Finally, Stephens lifted their price objective on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, J.B. Hunt Transport Services currently has a consensus rating of "Moderate Buy" and an average price target of $286.61.

Institutional Investors Weigh In On J.B. Hunt Transport Services

A number of hedge funds have recently bought and sold shares of JBHT. Elevation Wealth Partners LLC increased its stake in shares of J.B. Hunt Transport Services by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 150 shares of the transportation company's stock worth $43,000 after buying an additional 125 shares during the period. Root Financial Partners LLC lifted its stake in J.B. Hunt Transport Services by 25.4% in the fourth quarter. Root Financial Partners LLC now owns 232 shares of the transportation company's stock worth $45,000 after acquiring an additional 47 shares during the last quarter. Basecamp Wealth Advisors LLC grew its holdings in J.B. Hunt Transport Services by 250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 217 shares of the transportation company's stock worth $46,000 after acquiring an additional 155 shares in the last quarter. Larson Financial Group LLC grew its holdings in J.B. Hunt Transport Services by 47.0% during the 4th quarter. Larson Financial Group LLC now owns 269 shares of the transportation company's stock worth $52,000 after acquiring an additional 86 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of J.B. Hunt Transport Services by 378.1% in the 4th quarter. Manchester Capital Management LLC now owns 349 shares of the transportation company's stock valued at $68,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company's stock.

J.B. Hunt Transport Services Stock Performance

The stock's 50-day simple moving average is $274.65 and its 200 day simple moving average is $256.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $22.40 billion, a PE ratio of 33.80, a P/E/G ratio of 2.08 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.20. The business had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.26 billion. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The company's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. As a group, research analysts expect that J.B. Hunt Transport Services, Inc. will post 7.75 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 7th. This represents a $1.80 annualized dividend and a yield of 0.8%. J.B. Hunt Transport Services's payout ratio is presently 25.50%.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc is a transportation and logistics company headquartered in Lowell, Arkansas. Through its operating segments, the company provides freight transportation, logistics and supply-chain services to customers across North America.

Its principal businesses include intermodal transportation, which combines rail and trucking; dedicated contract services, which provides customized transportation and fleet-management solutions; and integrated capacity solutions, which matches customer freight with available transportation capacity.

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