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

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) gapped down prior to trading on Friday following a weaker than expected earnings announcement. 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 traded.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JBHT. BMO Capital Markets reaffirmed an “outperform” rating and issued a $195.00 target price on shares of J.B. Hunt Transport Services in a report on Wednesday, October 16th. Wells Fargo & Company cut their price target on J.B. Hunt Transport Services from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday. Evercore ISI decreased their target price on J.B. Hunt Transport Services from $207.00 to $202.00 and set an “outperform” rating on the stock in a report on Friday. Loop Capital upped their price target on shares of J.B. Hunt Transport Services from $173.00 to $187.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Benchmark restated a “buy” rating and issued a $195.00 price target on shares of J.B. Hunt Transport Services in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, J.B. Hunt Transport Services has a consensus rating of “Moderate Buy” and an average target price of $193.83.

Insider Buying and Selling

In related news, EVP Eric Mcgee sold 145 shares of J.B. Hunt Transport Services stock in a transaction on Friday, December 6th. The shares were sold at an average price of $182.72, for a total transaction of $26,494.40. Following the sale, the executive vice president now directly owns 700 shares in the company, valued at $127,904. This trade represents a 17.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shelley Simpson sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $183.47, for a total value of $1,100,820.00. Following the completion of the sale, the chief executive officer now owns 82,264 shares of the company’s stock, valued at approximately $15,092,976.08. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,459 shares of company stock worth $2,136,277. Corporate insiders own 2.10% 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 stock. Catalyst Capital Advisors LLC acquired a new stake in shares of J.B. Hunt Transport Services during the 3rd quarter valued at approximately $26,000. True Wealth Design LLC grew its holdings in shares of J.B. Hunt Transport Services by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the transportation company’s stock worth $26,000 after acquiring an additional 142 shares during the period. Cromwell Holdings LLC increased its stake in J.B. Hunt Transport Services by 47.2% in the 3rd quarter. Cromwell Holdings LLC now owns 237 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 76 shares in the last quarter. Versant Capital Management Inc raised its holdings in J.B. Hunt Transport Services by 102.2% during the fourth 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 last quarter. Finally, Huntington National Bank boosted its position in J.B. Hunt Transport Services by 21.8% during the third quarter. Huntington National Bank now owns 341 shares of the transportation company’s stock worth $59,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Price Performance

The company has a market cap of $17.50 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. The company has a fifty day simple moving average of $180.47 and a two-hundred day simple moving average of $173.76. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.26.

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.