Wells Fargo & Company Has Lowered Expectations for J.B. Hunt Transport Services (NASDAQ:JBHT) Stock Price

Key Points

• Wells Fargo & Company has reduced its price target for J.B. Hunt Transport Services from $163.00 to $160.00, while maintaining an "overweight" rating, indicating a potential upside of 16.51% from the current stock price.
• Analyst ratings reflect a consensus of "Moderate Buy" for J.B. Hunt, with one Strong Buy, ten Buy, and twelve Hold ratings currently in place.
• In its latest quarterly earnings, J.B. Hunt reported $1.31 earnings per share (EPS), which fell short of analysts' expectations of $1.34, while revenue slightly increased year-over-year.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) had its price target reduced by Wells Fargo & Company from $163.00 to $160.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's target price points to a potential upside of 16.51% from the stock's current price.

Several other brokerages have also issued reports on JBHT. Raymond James Financial boosted their target price on J.B. Hunt Transport Services from $155.00 to $165.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Bank of America lowered their target price on J.B. Hunt Transport Services from $171.00 to $153.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Truist Financial upped their price target on J.B. Hunt Transport Services from $140.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Baird R W raised J.B. Hunt Transport Services to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Susquehanna cut their target price on J.B. Hunt Transport Services from $157.00 to $145.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, J.B. Hunt Transport Services presently has an average rating of "Moderate Buy" and a consensus target price of $160.00.

J.B. Hunt Transport Services Stock Performance

J.B. Hunt Transport Services stock traded down $0.63 during trading on Monday, reaching $137.32. The company had a trading volume of 49,297 shares, compared to its average volume of 1,130,794. J.B. Hunt Transport Services has a 52 week low of $122.79 and a 52 week high of $200.40. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The firm's 50-day simple moving average is $140.59 and its 200 day simple moving average is $141.28.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last issued 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). J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%.The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The company's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that J.B. Hunt Transport Services will post 6.37 earnings per share for the current fiscal year.

Insider Activity at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total transaction of $150,298.33. Following the completion of the sale, the executive vice president directly owned 946 shares of the company's stock, valued at approximately $143,763.62. The trade was a 51.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Mcgee acquired 1,148 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $140.76 per share, with a total value of $161,592.48. Following the completion of the transaction, the executive vice president owned 7,397 shares in the company, valued at approximately $1,041,201.72. The trade was a 18.37% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of J.B. Hunt Transport Services by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,467 shares of the transportation company's stock valued at $1,529,000 after purchasing an additional 1,209 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of J.B. Hunt Transport Services in the first quarter valued at approximately $1,746,000. Bessemer Group Inc. grew its position in shares of J.B. Hunt Transport Services by 22.4% in the first quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock valued at $97,000 after purchasing an additional 120 shares during the last quarter. SG Americas Securities LLC grew its position in shares of J.B. Hunt Transport Services by 179.8% in the first quarter. SG Americas Securities LLC now owns 3,990 shares of the transportation company's stock valued at $590,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of J.B. Hunt Transport Services by 8.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,596 shares of the transportation company's stock valued at $976,000 after buying an additional 494 shares during the period. 74.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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