Truist Financial Forecasts Strong Price Appreciation for J.B. Hunt Transport Services (NASDAQ:JBHT) Stock

J.B. Hunt Transport Services (NASDAQ:JBHT) had its target price hoisted by stock analysts at Truist Financial from $130.00 to $140.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Truist Financial’s price target would suggest a potential downside of 7.33% from the stock’s previous close.

JBHT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft started coverage on J.B. Hunt Transport Services in a report on Friday, March 7th. They set a “hold” rating and a $167.00 target price on the stock. Bank of America lifted their price objective on shares of J.B. Hunt Transport Services from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Barclays dropped their target price on shares of J.B. Hunt Transport Services from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Sanford C. Bernstein set a $148.00 target price on shares of J.B. Hunt Transport Services and gave the stock a “market perform” rating in a report on Wednesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of J.B. Hunt Transport Services in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.43.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ:JBHT opened at $151.08 on Monday. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. J.B. Hunt Transport Services has a 12 month low of $122.79 and a 12 month high of $200.40. The stock’s 50 day moving average price is $139.54 and its 200 day moving average price is $153.02.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its quarterly earnings results on Tuesday, April 15th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.02. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.92 billion. J.B. Hunt Transport Services had a return on equity of 14.07% and a net margin of 4.65%. Equities research analysts anticipate that J.B. Hunt Transport Services will post 6.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other J.B. Hunt Transport Services news, COO Nicholas Hobbs acquired 1,529 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average cost of $130.75 per share, for a total transaction of $199,916.75. Following the transaction, the chief operating officer owned 91,847 shares of the company’s stock, valued at $12,008,995.25. The trade was a 1.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On J.B. Hunt Transport Services

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of J.B. Hunt Transport Services by 2.0% during the first quarter. Vanguard Group Inc. now owns 10,048,462 shares of the transportation company’s stock worth $1,486,670,000 after purchasing an additional 195,873 shares during the period. JPMorgan Chase & Co. lifted its position in J.B. Hunt Transport Services by 14.6% in the 1st quarter. JPMorgan Chase & Co. now owns 4,853,092 shares of the transportation company’s stock worth $718,015,000 after buying an additional 616,986 shares in the last quarter. Janus Henderson Group PLC lifted its position in J.B. Hunt Transport Services by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 3,390,200 shares of the transportation company’s stock worth $578,572,000 after buying an additional 15,476 shares in the last quarter. Invesco Ltd. boosted its stake in shares of J.B. Hunt Transport Services by 5.1% during the 4th quarter. Invesco Ltd. now owns 2,124,425 shares of the transportation company’s stock valued at $362,554,000 after buying an additional 104,019 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of J.B. Hunt Transport Services by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,997,568 shares of the transportation company’s stock valued at $340,049,000 after acquiring an additional 8,968 shares in the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.

About J.B. Hunt Transport Services

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.