Bank of America Forecasts Strong Price Appreciation for J.B. Hunt Transport Services (NASDAQ:JBHT) Stock

J.B. Hunt Transport Services (NASDAQ:JBHT) had its target price increased by research analysts at Bank of America from $150.00 to $166.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 12.12% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. TD Cowen cut their price objective on shares of J.B. Hunt Transport Services from $160.00 to $140.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Truist Financial cut their price target on shares of J.B. Hunt Transport Services from $165.00 to $130.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Stephens cut their price target on shares of J.B. Hunt Transport Services from $170.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Citigroup cut their price target on shares of J.B. Hunt Transport Services from $193.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Barclays cut their price target on shares of J.B. Hunt Transport Services from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

J.B. Hunt Transport Services Stock Up 0.1%

Shares of J.B. Hunt Transport Services stock opened at $148.05 on Friday. The company has a market cap of $14.69 billion, a P/E ratio of 26.63, a PEG ratio of 1.61 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 1.03. J.B. Hunt Transport Services has a one year low of $122.79 and a one year high of $200.40. The firm has a fifty day moving average of $139.52 and a two-hundred day moving average of $162.87.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings data on Tuesday, April 15th. The transportation company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.02. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.92 billion. J.B. Hunt Transport Services had a net margin of 4.72% and a return on equity of 14.05%. On average, analysts forecast that J.B. Hunt Transport Services will post 6.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Nicholas Hobbs bought 1,529 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average cost of $130.75 per share, with a total value of $199,916.75. Following the completion of the transaction, the chief operating officer now owns 91,847 shares of the company’s stock, valued at approximately $12,008,995.25. The trade was a 1.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Darren P. Field sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $161.67, for a total transaction of $194,004.00. Following the completion of the sale, the executive vice president now directly owns 17,822 shares in the company, valued at $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. 2.30% of the stock is owned by corporate insiders.

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

Several hedge funds have recently modified their holdings of JBHT. Barclays PLC boosted its position in shares of J.B. Hunt Transport Services by 37.5% in the third quarter. Barclays PLC now owns 236,177 shares of the transportation company’s stock worth $40,698,000 after acquiring an additional 64,380 shares during the last quarter. Principal Financial Group Inc. grew its stake in J.B. Hunt Transport Services by 1.8% during the third quarter. Principal Financial Group Inc. now owns 98,725 shares of the transportation company’s stock worth $17,013,000 after buying an additional 1,737 shares during the period. Czech National Bank grew its stake in J.B. Hunt Transport Services by 5.2% during the fourth quarter. Czech National Bank now owns 17,271 shares of the transportation company’s stock worth $2,947,000 after buying an additional 859 shares during the period. Assenagon Asset Management S.A. grew its stake in J.B. Hunt Transport Services by 155.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 220,840 shares of the transportation company’s stock worth $37,689,000 after buying an additional 134,476 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in J.B. Hunt Transport Services by 48.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 4,239 shares of the transportation company’s stock worth $723,000 after buying an additional 1,383 shares during the period. 74.95% of the stock is owned by institutional investors and hedge funds.

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.