Hub Group Hits New 12-Month High on Better-Than-Expected Earnings (HUBG)
Hub Group (NASDAQ:HUBG) hit a new 52-week high on Thursday following a better than expected earnings announcement, Stock Ratings Network.com reports. The company traded as high as $51.30 and last traded at $51.22, with a volume of 256,717 shares traded. The stock had previously closed at $50.77.
The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.01. The company had revenue of $893.90 million for the quarter, compared to the consensus estimate of $900.77 million. During the same quarter last year, the company posted $0.50 earnings per share. Hub Group’s revenue was up 6.8% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Hub Group from $50.00 to $54.00 in a research note on Tuesday, July 8th. Separately, analysts at BMO Capital Markets raised their price target on shares of Hub Group from $44.00 to $48.00 in a research note on Monday, July 7th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks upgraded shares of Hub Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $53.30 price target on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Hub Group presently has a consensus rating of “Buy” and an average target price of $49.42.
The stock has a 50-day moving average of $48.94 and a 200-day moving average of $43.62. The company has a market cap of $1.926 billion and a P/E ratio of 28.51.
Hub Group, Inc is an asset-light freight transportation management companies. The Company offers intermodal, truck brokerage and logistics services.
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