Bank of America Corporation reaffirmed their buy rating on shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in a research report released on Monday, July 10th. The firm currently has a $109.00 price objective on the transportation company’s stock, up from their previous price objective of $98.00.
JBHT has been the subject of a number of other reports. Cowen and Company lowered their target price on shares of J.B. Hunt Transport Services from $102.00 to $101.00 and set an outperform rating for the company in a report on Wednesday, April 19th. Vertical Research initiated coverage on shares of J.B. Hunt Transport Services in a research note on Thursday, April 13th. They set a hold rating and a $92.00 price objective for the company. Credit Suisse Group reiterated a buy rating and set a $103.00 price objective (down from $107.00) on shares of J.B. Hunt Transport Services in a research note on Friday, March 31st. Zacks Investment Research downgraded shares of J.B. Hunt Transport Services from a hold rating to a sell rating in a research note on Monday, May 15th. Finally, BidaskClub upgraded shares of J.B. Hunt Transport Services from a strong sell rating to a sell rating in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $98.73.
Shares of J.B. Hunt Transport Services (NASDAQ:JBHT) traded up 0.28% on Monday, hitting $90.91. 651,804 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $90.77 and its 200 day moving average price is $92.11. J.B. Hunt Transport Services has a 12-month low of $76.20 and a 12-month high of $102.38. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 23.85 and a beta of 0.94.
J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Monday, July 17th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by $0.04. J.B. Hunt Transport Services had a net margin of 6.32% and a return on equity of 30.00%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. J.B. Hunt Transport Services’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that J.B. Hunt Transport Services will post $3.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.92 annualized dividend and a yield of 1.01%. J.B. Hunt Transport Services’s dividend payout ratio is presently 24.08%.
J.B. Hunt Transport Services announced that its Board of Directors has authorized a share buyback program on Thursday, April 20th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 51% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other J.B. Hunt Transport Services news, EVP Nicholas Hobbs sold 4,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $93.55, for a total transaction of $374,200.00. Following the sale, the executive vice president now directly owns 51,232 shares of the company’s stock, valued at $4,792,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James K. Thompson sold 8,503 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $91.76, for a total transaction of $780,235.28. Following the sale, the chairman now directly owns 51,846 shares in the company, valued at $4,757,388.96. The disclosure for this sale can be found here. Insiders have sold 14,681 shares of company stock worth $1,358,071 over the last three months. 4.30% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of JBHT. Bronfman E.L. Rothschild L.P. boosted its stake in shares of J.B. Hunt Transport Services by 3.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,296 shares of the transportation company’s stock worth $119,000 after buying an additional 43 shares during the period. Farmers & Merchants Investments Inc. raised its position in J.B. Hunt Transport Services by 1.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,420 shares of the transportation company’s stock valued at $130,000 after buying an additional 20 shares in the last quarter. Van ECK Associates Corp raised its position in J.B. Hunt Transport Services by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,468 shares of the transportation company’s stock valued at $135,000 after buying an additional 95 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in J.B. Hunt Transport Services by 3.1% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,650 shares of the transportation company’s stock valued at $151,000 after buying an additional 50 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in J.B. Hunt Transport Services during the second quarter valued at approximately $173,000. 73.09% of the stock is currently owned by institutional investors.
About J.B. Hunt Transport Services
J.B. Hunt Transport Services, Inc is a surface transportation, delivery, and logistics company in North America. The Company segments include Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS) and Truck (JBT). The Company, through its subsidiaries, provides transportation and delivery services to a range of customers and consumers throughout the continental United States, Canada and Mexico.
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