J.B. Hunt Transport Services (NASDAQ:JBHT) Hits New 52-Week High Following Analyst Upgrade

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $150.00 to $165.00. Morgan Stanley currently has an equal weight rating on the stock. J.B. Hunt Transport Services traded as high as $191.88 and last traded at $189.89, with a volume of 1397889 shares trading hands. The stock had previously closed at $188.41.

JBHT has been the topic of several other research reports. UBS Group lifted their price target on J.B. Hunt Transport Services from $157.00 to $174.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Wells Fargo & Company raised their price objective on J.B. Hunt Transport Services from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Raymond James Financial boosted their target price on J.B. Hunt Transport Services from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Citigroup dropped their target price on shares of J.B. Hunt Transport Services from $170.00 to $163.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, TD Cowen raised their price target on shares of J.B. Hunt Transport Services from $140.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, J.B. Hunt Transport Services currently has an average rating of “Moderate Buy” and an average target price of $167.05.

Insider Transactions at J.B. Hunt Transport Services

In related news, CAO John Kuhlow sold 3,225 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $179.76, for a total value of $579,726.00. Following the completion of the transaction, the chief accounting officer owned 13,095 shares in the company, valued at $2,353,957.20. This trade represents a 19.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darren P. Field sold 6,500 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $169.00, for a total transaction of $1,098,500.00. Following the sale, the executive vice president owned 12,976 shares in the company, valued at approximately $2,192,944. This represents a 33.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 12,725 shares of company stock valued at $2,237,846. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On J.B. Hunt Transport Services

Large investors have recently modified their holdings of the business. Stephens Inc. AR increased its position in J.B. Hunt Transport Services by 2.8% during the 2nd quarter. Stephens Inc. AR now owns 113,935 shares of the transportation company’s stock valued at $16,390,000 after purchasing an additional 3,121 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of J.B. Hunt Transport Services by 222.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 21,914 shares of the transportation company’s stock worth $3,147,000 after purchasing an additional 15,111 shares during the period. HB Wealth Management LLC acquired a new position in shares of J.B. Hunt Transport Services in the 2nd quarter worth approximately $244,000. Cambiar Investors LLC boosted its stake in shares of J.B. Hunt Transport Services by 6.3% in the 2nd quarter. Cambiar Investors LLC now owns 54,060 shares of the transportation company’s stock valued at $7,763,000 after purchasing an additional 3,210 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of J.B. Hunt Transport Services by 34.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 482 shares of the transportation company’s stock worth $71,000 after buying an additional 123 shares during the period. Institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

The company’s 50-day moving average price is $162.90 and its two-hundred day moving average price is $150.05. The company has a market capitalization of $18.08 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.56 and a beta of 1.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its quarterly earnings results on Wednesday, October 15th. The transportation company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. J.B. Hunt Transport Services had a net margin of 4.75% and a return on equity of 15.16%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.76 annualized dividend and a yield of 0.9%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is currently 30.50%.

J.B. Hunt Transport Services announced that its Board of Directors has authorized a share buyback program on Wednesday, October 22nd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.