Citigroup Issues Pessimistic Forecast for J.B. Hunt Transport Services (NASDAQ:JBHT) Stock Price

J.B. Hunt Transport Services (NASDAQ:JBHT) had its price objective lowered by investment analysts at Citigroup from $309.00 to $254.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target would indicate a potential upside of 14.30% from the stock’s previous close.

A number of other analysts have also recently commented on JBHT. Zacks Research cut shares of J.B. Hunt Transport Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Sanford C. Bernstein restated an “outperform” rating on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. UBS Group cut their target price on shares of J.B. Hunt Transport Services from $291.00 to $264.00 and set a “neutral” rating for the company in a research note on Thursday, September 17th. Benchmark lifted their price target on J.B. Hunt Transport Services from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Bank of America lowered their price target on J.B. Hunt Transport Services from $340.00 to $302.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.83.

J.B. Hunt Transport Services Trading Down 1.6%

Shares of JBHT traded down $3.70 during trading hours on Wednesday, reaching $222.23. The stock had a trading volume of 284,672 shares, compared to its average volume of 1,011,809. The company has a market cap of $20.87 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.85 and a beta of 1.31. J.B. Hunt Transport Services has a 52 week low of $136.46 and a 52 week high of $299.76. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $258.37 and a 200 day moving average of $258.03.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.20. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts expect that J.B. Hunt Transport Services will post 7.58 earnings per share for the current fiscal year.

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

Several hedge funds have recently bought and sold shares of JBHT. BlackRock Inc. bought a new position in shares of J.B. Hunt Transport Services during the second quarter worth approximately $1,833,602,000. Jupiter Topco LLC acquired a new position in J.B. Hunt Transport Services in the 2nd quarter valued at $891,349,000. Janus Henderson Group PLC grew its holdings in J.B. Hunt Transport Services by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,982,720 shares of the transportation company’s stock valued at $843,937,000 after buying an additional 41,887 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in J.B. Hunt Transport Services by 64.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,056,398 shares of the transportation company’s stock worth $305,753,000 after buying an additional 414,837 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of J.B. Hunt Transport Services during the second quarter worth $287,581,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc is a transportation and logistics company headquartered in Lowell, Arkansas. Founded in 1961 by Johnnie Bryan Hunt and Johnelle Hunt, the company has grown from a small trucking operation into a major provider of freight transportation and supply-chain services across North America.

The company’s primary business activities include intermodal transportation, which combines rail and truck services; dedicated contract services, which provides customized fleet and delivery operations for individual customers; and integrated capacity solutions, including freight brokerage and third-party logistics.