J.B. Hunt Transport Services (NASDAQ:JBHT) Shares Gap Up on Better-Than-Expected Earnings

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $138.83, but opened at $162.99. J.B. Hunt Transport Services shares last traded at $163.82, with a volume of 1,554,157 shares trading hands.

The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. J.B. Hunt Transport Services had a net margin of 4.75% and a return on equity of 14.89%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the firm posted $1.49 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services’s payout ratio is presently 32.00%.

Wall Street Analyst Weigh In

JBHT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of J.B. Hunt Transport Services in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of J.B. Hunt Transport Services from $170.00 to $176.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen upped their price objective on shares of J.B. Hunt Transport Services from $140.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday. Susquehanna reduced their price objective on shares of J.B. Hunt Transport Services from $157.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 24th. Finally, BMO Capital Markets upped their price objective on shares of J.B. Hunt Transport Services from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.35.

Insider Activity

In other news, EVP David Keefauver sold 989 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total value of $150,298.33. Following the completion of the sale, the executive vice president owned 946 shares in the company, valued at $143,763.62. This represents a 51.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Mcgee bought 1,148 shares of the stock in a transaction dated Monday, August 4th. The stock was purchased at an average price of $140.76 per share, with a total value of $161,592.48. Following the acquisition, the executive vice president owned 7,397 shares of the company’s stock, valued at $1,041,201.72. The trade was a 18.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.30% 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. Private Trust Co. NA boosted its stake in shares of J.B. Hunt Transport Services by 57.8% during the 2nd quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after purchasing an additional 74 shares during the period. Exchange Traded Concepts LLC lifted its holdings in J.B. Hunt Transport Services by 13.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company’s stock valued at $108,000 after buying an additional 85 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in J.B. Hunt Transport Services by 38.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company’s stock valued at $45,000 after buying an additional 88 shares in the last quarter. Forsta AP Fonden lifted its holdings in J.B. Hunt Transport Services by 0.7% during the 2nd quarter. Forsta AP Fonden now owns 14,600 shares of the transportation company’s stock valued at $2,097,000 after buying an additional 100 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in J.B. Hunt Transport Services by 21.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 583 shares of the transportation company’s stock valued at $84,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Up 22.1%

The business’s fifty day moving average is $140.63 and its two-hundred day moving average is $141.03. The company has a market cap of $16.41 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87.

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.