J. B. Hunt (JBHT) Shares Gap Up Following Analyst Upgrade

J. B. Hunt (NASDAQ:JBHT)’s share price gapped up prior to trading on Tuesday after Bank of America raised their price target on the stock from $134.00 to $135.00. The stock had previously closed at $119.78, but opened at $119.75. Bank of America currently has a buy rating on the stock. J. B. Hunt shares last traded at $117.81, with a volume of 603597 shares trading hands.

A number of other brokerages have also issued reports on JBHT. BidaskClub upgraded shares of J. B. Hunt from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of J. B. Hunt from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Tuesday, January 23rd. Cowen restated a “market perform” rating and set a $124.00 target price (down from $127.00) on shares of J. B. Hunt in a research report on Monday, January 29th. Stephens restated a “buy” rating and set a $140.00 target price on shares of J. B. Hunt in a research report on Friday, January 19th. Finally, Loop Capital restated a “buy” rating and set a $145.00 target price on shares of J. B. Hunt in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. J. B. Hunt presently has a consensus rating of “Hold” and a consensus price target of $124.50.

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In related news, Director Earl Wayne Garrison sold 21,344 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $125.79, for a total transaction of $2,684,861.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Johnnie B. Hunt, Jr. sold 2,328 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $121.00, for a total value of $281,688.00. Following the sale, the director now directly owns 70,697 shares of the company’s stock, valued at $8,554,337. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of JBHT. Buckingham Capital Management Inc. lifted its holdings in shares of J. B. Hunt by 9.6% during the third quarter. Buckingham Capital Management Inc. now owns 5,545 shares of the transportation company’s stock worth $616,000 after purchasing an additional 485 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of J. B. Hunt by 289.4% during the third quarter. JPMorgan Chase & Co. now owns 89,400 shares of the transportation company’s stock worth $9,737,000 after purchasing an additional 66,442 shares during the period. Dimensional Fund Advisors LP lifted its holdings in J. B. Hunt by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 449,576 shares of the transportation company’s stock valued at $49,931,000 after acquiring an additional 1,686 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in J. B. Hunt by 79.0% in the third quarter. Cubist Systematic Strategies LLC now owns 3,917 shares of the transportation company’s stock valued at $435,000 after acquiring an additional 1,729 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in J. B. Hunt by 2.6% in the third quarter. California Public Employees Retirement System now owns 226,184 shares of the transportation company’s stock valued at $25,125,000 after acquiring an additional 5,684 shares during the period. 72.25% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.45 and a quick ratio of 1.43. The firm has a market cap of $13,143.10, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.93.

J. B. Hunt (NASDAQ:JBHT) last released its earnings results on Monday, April 16th. The transportation company reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. J. B. Hunt had a return on equity of 27.42% and a net margin of 9.35%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $0.92 earnings per share. J. B. Hunt’s quarterly revenue was up 19.6% compared to the same quarter last year. research analysts anticipate that J. B. Hunt will post 5.27 earnings per share for the current fiscal year.

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About J. B. Hunt

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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