J.B. Hunt Transport Services (NASDAQ:JBHT) Given New $165.00 Price Target at Morgan Stanley

Posted by Defense World Staff on Oct 20th, 2023

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) had its target price cut by investment analysts at Morgan Stanley from $169.00 to $165.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential downside of 7.72% from the company’s current price.

Several other research analysts have also recently issued reports on JBHT. Bank of America lifted their target price on shares of J.B. Hunt Transport Services from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, September 18th. StockNews.com assumed coverage on shares of J.B. Hunt Transport Services in a report on Thursday, October 5th. They set a “hold” rating for the company. Susquehanna decreased their price objective on shares of J.B. Hunt Transport Services from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of J.B. Hunt Transport Services from $162.00 to $174.00 and gave the company a “hold” rating in a report on Wednesday, July 19th. Finally, Stephens reissued an “overweight” rating and set a $210.00 price objective on shares of J.B. Hunt Transport Services in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $197.00.

Check Out Our Latest Research Report on JBHT

J.B. Hunt Transport Services Stock Up 0.1 %

Shares of J.B. Hunt Transport Services stock opened at $178.81 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $18.48 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. J.B. Hunt Transport Services has a 52-week low of $159.83 and a 52-week high of $209.21. The company has a 50-day simple moving average of $190.29 and a two-hundred day simple moving average of $183.51.

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last issued its earnings results on Tuesday, October 17th. The transportation company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.03). The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.17 billion. J.B. Hunt Transport Services had a return on equity of 20.47% and a net margin of 5.89%. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period last year, the firm posted $2.57 earnings per share. On average, analysts anticipate that J.B. Hunt Transport Services will post 7.59 EPS for the current fiscal year.

Insider Activity at J.B. Hunt Transport Services

In related news, EVP Stuart Lockard Scott sold 1,609 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $198.28, for a total transaction of $319,032.52. Following the sale, the executive vice president now owns 29,126 shares of the company’s stock, valued at $5,775,103.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Eric Mcgee sold 400 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $190.26, for a total value of $76,104.00. Following the completion of the sale, the executive vice president now owns 500 shares in the company, valued at approximately $95,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart Lockard Scott sold 1,609 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $198.28, for a total transaction of $319,032.52. Following the completion of the sale, the executive vice president now owns 29,126 shares of the company’s stock, valued at approximately $5,775,103.28. The disclosure for this sale can be found here. Insiders have sold a total of 9,023 shares of company stock valued at $1,807,621 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On J.B. Hunt Transport Services

Institutional investors have recently made changes to their positions in the company. Perpetual Ltd lifted its holdings in shares of J.B. Hunt Transport Services by 4.6% in the 2nd quarter. Perpetual Ltd now owns 98,397 shares of the transportation company’s stock worth $17,813,000 after acquiring an additional 4,335 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in J.B. Hunt Transport Services by 4.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,040 shares of the transportation company’s stock valued at $702,000 after buying an additional 166 shares in the last quarter. Assetmark Inc. lifted its holdings in J.B. Hunt Transport Services by 9.9% during the 1st quarter. Assetmark Inc. now owns 9,043 shares of the transportation company’s stock valued at $1,587,000 after buying an additional 811 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in J.B. Hunt Transport Services by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 37,193 shares of the transportation company’s stock valued at $6,526,000 after buying an additional 230 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC bought a new stake in J.B. Hunt Transport Services during the 2nd quarter valued at about $1,600,000. Institutional investors own 73.09% of the company’s stock.

About J.B. Hunt Transport Services

(Get Free Report)

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in North America. 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.