Cowen and Company Lowers J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) to Market Perform

Cowen and Company lowered shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) from an outperform rating to a market perform rating in a research note released on Monday, October 16th, Marketbeat.com reports. The firm currently has $101.00 price objective on the transportation company’s stock, down from their previous price objective of $102.00.

Other research analysts have also issued research reports about the company. Stifel Nicolaus reiterated a hold rating and issued a $88.00 price target on shares of J.B. Hunt Transport Services in a research report on Friday, June 23rd. Wells Fargo & Company restated an outperform rating and set a $105.00 target price (up previously from $100.00) on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 18th. BidaskClub lowered J.B. Hunt Transport Services from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded J.B. Hunt Transport Services from a sell rating to a hold rating in a research report on Tuesday, August 1st. Finally, Loop Capital restated a buy rating and set a $103.00 target price (down previously from $105.00) on shares of J.B. Hunt Transport Services in a research report on Saturday, July 22nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. J.B. Hunt Transport Services has a consensus rating of Buy and an average target price of $109.41.

Shares of J.B. Hunt Transport Services (NASDAQ JBHT) opened at 108.88 on Monday. J.B. Hunt Transport Services has a 12 month low of $79.22 and a 12 month high of $111.98. The company has a market capitalization of $11.95 billion, a P/E ratio of 29.02 and a beta of 0.97. The company’s 50 day moving average price is $104.94 and its 200 day moving average price is $94.37.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings results on Friday, October 13th. The transportation company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.05). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. J.B. Hunt Transport Services had a return on equity of 28.90% and a net margin of 6.05%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 EPS. Analysts expect that J.B. Hunt Transport Services will post $3.72 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, November 2nd. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 24.47%.

In other news, EVP Bradley W. Hicks sold 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $94.73, for a total transaction of $94,730.00. Following the sale, the executive vice president now directly owns 18,690 shares of the company’s stock, valued at $1,770,503.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder J B. Hunt Llc sold 975,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $98.00, for a total transaction of $95,550,000.00. Following the sale, the insider now directly owns 17,477,085 shares in the company, valued at $1,712,754,330. The disclosure for this sale can be found here. Insiders have sold 1,038,191 shares of company stock worth $101,708,365 over the last three months. Corporate insiders own 4.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in J.B. Hunt Transport Services by 54.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,494 shares of the transportation company’s stock valued at $1,055,000 after purchasing an additional 3,366 shares during the last quarter. Korea Investment CORP boosted its holdings in J.B. Hunt Transport Services by 23.0% in the third quarter. Korea Investment CORP now owns 7,500 shares of the transportation company’s stock valued at $833,000 after purchasing an additional 1,400 shares during the last quarter. Oakbrook Investments LLC boosted its holdings in J.B. Hunt Transport Services by 24.9% in the third quarter. Oakbrook Investments LLC now owns 8,020 shares of the transportation company’s stock valued at $891,000 after purchasing an additional 1,600 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of J.B. Hunt Transport Services by 74.6% in the third quarter. Meeder Asset Management Inc. now owns 3,310 shares of the transportation company’s stock worth $368,000 after acquiring an additional 1,414 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of J.B. Hunt Transport Services by 2,613.2% in the third quarter. Assenagon Asset Management S.A. now owns 149,364 shares of the transportation company’s stock worth $16,591,000 after acquiring an additional 143,859 shares during the period. 71.51% of the stock is currently owned by institutional investors.

About J.B. Hunt Transport Services

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.

Analyst Recommendations for J.B. Hunt Transport Services (NASDAQ:JBHT)

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