Raymond James Financial Cuts Hub Group (NASDAQ:HUBG) Price Target to $40.00

Hub Group (NASDAQ:HUBG) had its price objective dropped by investment analysts at Raymond James Financial from $48.00 to $40.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James Financial’s price target suggests a potential upside of 21.07% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hub Group in a research report on Wednesday, June 24th. Wells Fargo & Company set a $35.00 target price on shares of Hub Group in a research report on Monday. Finally, UBS Group reissued a “neutral” rating on shares of Hub Group in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.69.

Hub Group Trading Down 0.2%

Shares of Hub Group stock traded down $0.08 during trading on Thursday, reaching $33.04. The company’s stock had a trading volume of 245,582 shares, compared to its average volume of 924,475. The stock has a 50-day moving average price of $42.70 and a two-hundred day moving average price of $41.58. Hub Group has a one year low of $31.41 and a one year high of $53.26. The stock has a market capitalization of $2.02 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Institutional Investors Weigh In On Hub Group

Several institutional investors have recently modified their holdings of the business. Capital International Investors grew its position in shares of Hub Group by 16.9% during the 4th quarter. Capital International Investors now owns 3,465,688 shares of the transportation company’s stock worth $147,673,000 after buying an additional 501,955 shares during the period. Wellington Management Group LLP raised its position in shares of Hub Group by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 7,446,774 shares of the transportation company’s stock valued at $326,094,000 after acquiring an additional 491,130 shares during the period. Edgestream Partners L.P. bought a new position in Hub Group during the 1st quarter worth approximately $8,069,000. Renaissance Technologies LLC boosted its stake in Hub Group by 2,065.9% during the 1st quarter. Renaissance Technologies LLC now owns 146,672 shares of the transportation company’s stock worth $5,286,000 after acquiring an additional 139,900 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Hub Group by 78,261.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 137,917 shares of the transportation company’s stock valued at $5,877,000 after purchasing an additional 137,741 shares during the period. Institutional investors and hedge funds own 46.77% of the company’s stock.

About Hub Group

Hub Group, Inc is a North American transportation and logistics company that provides supply chain solutions to manufacturers, retailers, distributors and other businesses. Its services are designed to help customers move freight efficiently across multiple modes of transportation and manage related logistics activities.

The company’s primary offerings include intermodal transportation, which combines rail and truck services; truck brokerage; dedicated and managed transportation; and final-mile and other logistics services.