Hub Group (NASDAQ:HUBG) Stock Price Up 5.9% After Strong Earnings

Hub Group Inc (NASDAQ:HUBG) shares rose 5.9% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $56.48 and last traded at $52.90, approximately 585,877 shares traded hands during trading. An increase of 98% from the average daily volume of 295,596 shares. The stock had previously closed at $49.96.

The transportation company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.37. Hub Group had a return on equity of 8.41% and a net margin of 2.34%. The business had revenue of $779.24 million for the quarter, compared to the consensus estimate of $780.00 million.

HUBG has been the topic of a number of analyst reports. Zacks Investment Research upgraded Hub Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Stephens lifted their price target on Hub Group from $54.00 to $57.00 in a report on Thursday, July 9th. Cowen boosted their target price on Hub Group from $53.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday. BidaskClub downgraded Hub Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. Finally, Morgan Stanley dropped their target price on Hub Group from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $52.43.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in Hub Group by 7.8% during the 1st quarter. State Street Corp now owns 1,164,450 shares of the transportation company’s stock worth $52,948,000 after acquiring an additional 84,290 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Hub Group by 14.0% in the 4th quarter. Macquarie Group Ltd. now owns 913,558 shares of the transportation company’s stock valued at $46,856,000 after buying an additional 112,300 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Hub Group by 6.6% in the 1st quarter. Nuveen Asset Management LLC now owns 765,593 shares of the transportation company’s stock valued at $34,811,000 after buying an additional 47,567 shares during the period. Norges Bank acquired a new position in shares of Hub Group in the 4th quarter valued at about $35,885,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Hub Group by 6.6% in the 1st quarter. Geode Capital Management LLC now owns 487,088 shares of the transportation company’s stock valued at $22,147,000 after buying an additional 30,185 shares during the period. 90.66% of the stock is owned by institutional investors.

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 21.95 and a beta of 1.10. The company has a fifty day moving average price of $49.11 and a 200-day moving average price of $48.39. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.26.

About Hub Group (NASDAQ:HUBG)

Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, trucking, truck brokerage, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers' freight in containers and trailers over long distances.

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