J.B. Hunt Transport Services, Inc. (JBHT) Given Average Recommendation of “Hold” by Brokerages
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) has earned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $98.80.
A number of equities research analysts have recently issued reports on the company. BidaskClub cut J.B. Hunt Transport Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus set a $91.00 price objective on J.B. Hunt Transport Services and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. J P Morgan Chase & Co assumed coverage on J.B. Hunt Transport Services in a research note on Tuesday, May 23rd. They set an “overweight” rating and a $107.00 price objective on the stock. Finally, Cowen and Company reiterated a “buy” rating and set a $102.00 price objective on shares of J.B. Hunt Transport Services in a research note on Friday, August 25th.
In related news, EVP Terrence D. Matthews sold 2,694 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $101.00, for a total transaction of $272,094.00. Following the transaction, the executive vice president now directly owns 21,140 shares of the company’s stock, valued at approximately $2,135,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder J B. Hunt Llc sold 975,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $98.00, for a total value of $95,550,000.00. Following the completion of the transaction, the insider now directly owns 17,477,085 shares in the company, valued at $1,712,754,330. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,872 shares of company stock worth $103,066,436 over the last three months. 4.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of JBHT. BlackRock Inc. grew its holdings in J.B. Hunt Transport Services by 2,611.8% in the 1st quarter. BlackRock Inc. now owns 6,252,515 shares of the transportation company’s stock valued at $573,604,000 after buying an additional 6,021,944 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in J.B. Hunt Transport Services in the 2nd quarter valued at $147,610,000. Bank of New York Mellon Corp grew its holdings in J.B. Hunt Transport Services by 25.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,655,290 shares of the transportation company’s stock valued at $242,640,000 after buying an additional 531,089 shares in the last quarter. Renaissance Technologies LLC grew its holdings in J.B. Hunt Transport Services by 423.1% in the 1st quarter. Renaissance Technologies LLC now owns 625,344 shares of the transportation company’s stock valued at $57,369,000 after buying an additional 505,800 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C grew its holdings in J.B. Hunt Transport Services by 15.4% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,568,728 shares of the transportation company’s stock valued at $326,110,000 after buying an additional 477,144 shares in the last quarter. 71.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of J.B. Hunt Transport Services (NASDAQ JBHT) traded up 1.74% during trading on Friday, reaching $101.57. The company’s stock had a trading volume of 1,087,940 shares. J.B. Hunt Transport Services has a 52 week low of $76.20 and a 52 week high of $102.99. The company has a market cap of $11.12 billion, a PE ratio of 26.64 and a beta of 0.93. The stock’s 50 day moving average price is $96.41 and its 200 day moving average price is $91.93.
J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings data 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 return on equity of 30.00% and a net margin of 6.32%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that J.B. Hunt Transport Services will post $3.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, August 3rd. J.B. Hunt Transport Services’s payout ratio is presently 24.08%.
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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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