J.B. Hunt Transport Services (NASDAQ:JBHT) Shares Gap Down on Disappointing Earnings

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $186.20, but opened at $175.00. J.B. Hunt Transport Services shares last traded at $172.59, with a volume of 835,878 shares.

The transportation company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.09). J.B. Hunt Transport Services had a net margin of 4.65% and a return on equity of 13.92%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Loop Capital increased their price objective on shares of J.B. Hunt Transport Services from $173.00 to $187.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Benchmark restated a “buy” rating and set a $195.00 target price on shares of J.B. Hunt Transport Services in a report on Friday. Barclays lifted their price target on J.B. Hunt Transport Services from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. TD Cowen decreased their price objective on J.B. Hunt Transport Services from $180.00 to $171.00 and set a “hold” rating for the company in a research note on Friday. Finally, Bank of America lifted their target price on J.B. Hunt Transport Services from $195.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, J.B. Hunt Transport Services has an average rating of “Moderate Buy” and an average price target of $191.67.

Insider Transactions at J.B. Hunt Transport Services

In related news, CEO Shelley Simpson sold 6,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $183.47, for a total value of $1,100,820.00. Following the completion of the transaction, the chief executive officer now owns 82,264 shares in the company, valued at $15,092,976.08. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darren P. Field sold 1,500 shares of J.B. Hunt Transport Services stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $183.50, for a total value of $275,250.00. Following the sale, the executive vice president now directly owns 12,650 shares of the company’s stock, valued at approximately $2,321,275. This represents a 10.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,459 shares of company stock worth $2,136,277. Company insiders own 2.10% of the company’s stock.

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

Several hedge funds and other institutional investors have recently bought and sold shares of JBHT. Catalyst Capital Advisors LLC purchased a new stake in shares of J.B. Hunt Transport Services in the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its position in J.B. Hunt Transport Services by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 142 shares during the period. Cromwell Holdings LLC boosted its holdings in J.B. Hunt Transport Services by 47.2% in the third quarter. Cromwell Holdings LLC now owns 237 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 76 shares during the last quarter. Versant Capital Management Inc grew its position in J.B. Hunt Transport Services by 102.2% during the 4th quarter. Versant Capital Management Inc now owns 281 shares of the transportation company’s stock worth $48,000 after purchasing an additional 142 shares during the period. Finally, Huntington National Bank raised its stake in shares of J.B. Hunt Transport Services by 21.8% during the 3rd quarter. Huntington National Bank now owns 341 shares of the transportation company’s stock valued at $59,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $180.08 and a two-hundred day moving average of $173.85. The company has a market capitalization of $17.39 billion, a PE ratio of 31.35, a PEG ratio of 2.94 and a beta of 1.16.

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.