Bank of America Cuts J.B. Hunt Transport Services (NASDAQ:JBHT) Price Target to $170.00

J.B. Hunt Transport Services (NASDAQ:JBHT) had its price target decreased by Bank of America from $189.00 to $170.00 in a report released on Monday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on the company. Truist Financial initiated coverage on J.B. Hunt Transport Services in a report on Thursday, March 13th. They issued a “hold” rating and a $165.00 price target for the company. TD Cowen lowered their price target on J.B. Hunt Transport Services from $180.00 to $171.00 and set a “hold” rating for the company in a report on Friday, January 17th. Stifel Nicolaus lowered their price target on J.B. Hunt Transport Services from $167.00 to $161.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Susquehanna raised J.B. Hunt Transport Services from a “neutral” rating to a “positive” rating and set a $200.00 price target for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price target on J.B. Hunt Transport Services from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.80.

J.B. Hunt Transport Services Price Performance

Shares of JBHT stock opened at $147.05 on Monday. J.B. Hunt Transport Services has a 1-year low of $144.90 and a 1-year high of $200.40. The stock’s 50-day moving average is $166.52 and its 200 day moving average is $173.16. The company has a market cap of $14.71 billion, a P/E ratio of 26.45, a PEG ratio of 1.61 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.03 and a quick ratio of 0.94.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its quarterly earnings data on Thursday, January 16th. The transportation company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.09). J.B. Hunt Transport Services had a net margin of 4.72% and a return on equity of 14.05%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the business earned $1.47 EPS. J.B. Hunt Transport Services’s revenue for the quarter was down 4.5% compared to the same quarter last year. Research analysts predict that J.B. Hunt Transport Services will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.20%. This is an increase from J.B. Hunt Transport Services’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, February 7th. J.B. Hunt Transport Services’s dividend payout ratio is presently 31.65%.

Insider Transactions at J.B. Hunt Transport Services

In related news, Director James K. Thompson sold 4,400 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $175.37, for a total value of $771,628.00. Following the completion of the transaction, the director now directly owns 23,559 shares of the company’s stock, valued at approximately $4,131,541.83. This represents a 15.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darren P. Field sold 1,200 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $161.67, for a total value of $194,004.00. Following the completion of the transaction, the executive vice president now directly owns 17,822 shares of the company’s stock, valued at approximately $2,881,282.74. This represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of J.B. Hunt Transport Services

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings in J.B. Hunt Transport Services by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the transportation company’s stock valued at $26,000 after buying an additional 142 shares in the last quarter. National Pension Service purchased a new stake in J.B. Hunt Transport Services in the 4th quarter valued at $30,000. BankPlus Trust Department purchased a new stake in J.B. Hunt Transport Services in the 4th quarter valued at $34,000. Versant Capital Management Inc grew its holdings in J.B. Hunt Transport Services by 102.2% in the 4th quarter. Versant Capital Management Inc now owns 281 shares of the transportation company’s stock valued at $48,000 after buying an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in J.B. Hunt Transport Services by 68.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 329 shares of the transportation company’s stock valued at $56,000 after buying an additional 134 shares in the last quarter. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

J.B. Hunt Transport Services Company Profile

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.