J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.

JBHT has been the subject of several other reports. Bank of America Corporation reiterated a “buy” rating and issued a $109.00 target price (up from $98.00) on shares of J.B. Hunt Transport Services in a report on Monday, July 10th. Deutsche Bank AG upped their target price on J.B. Hunt Transport Services from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Zacks Investment Research upgraded J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Wells Fargo & Company reiterated an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of J.B. Hunt Transport Services in a report on Tuesday, July 18th. Finally, Vertical Research began coverage on J.B. Hunt Transport Services in a report on Thursday, April 13th. They issued a “hold” rating and a $92.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. J.B. Hunt Transport Services has a consensus rating of “Hold” and a consensus target price of $98.73.

J.B. Hunt Transport Services (NASDAQ JBHT) traded up 2.88% during trading on Friday, reaching $94.75. The company’s stock had a trading volume of 519,924 shares. The firm’s 50-day moving average price is $91.12 and its 200 day moving average price is $91.98. The company has a market capitalization of $10.37 billion, a P/E ratio of 24.86 and a beta of 0.94. J.B. Hunt Transport Services has a 12-month low of $76.20 and a 12-month high of $102.38.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its earnings results on Monday, July 17th. The transportation company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.04. J.B. Hunt Transport Services had a return on equity of 30.00% and a net margin of 6.32%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. J.B. Hunt Transport Services’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that J.B. Hunt Transport Services will post $3.88 earnings per share for the current fiscal year.

J.B. Hunt Transport Services declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 51% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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In related news, insider John N. Roberts sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $91.25, for a total transaction of $638,750.00. Following the transaction, the insider now directly owns 267,377 shares of the company’s stock, valued at approximately $24,398,151.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James K. Thompson sold 8,503 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $91.76, for a total value of $780,235.28. Following the transaction, the chairman now directly owns 51,846 shares in the company, valued at $4,757,388.96. The disclosure for this sale can be found here. Insiders have sold a total of 32,448 shares of company stock worth $2,979,740 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of J.B. Hunt Transport Services by 2,611.8% in the first quarter. BlackRock Inc. now owns 6,252,515 shares of the transportation company’s stock valued at $573,604,000 after buying an additional 6,021,944 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of J.B. Hunt Transport Services during the second quarter valued at about $147,610,000. Bank of New York Mellon Corp raised its position in shares of J.B. Hunt Transport Services by 25.0% in the second quarter. Bank of New York Mellon Corp now owns 2,655,290 shares of the transportation company’s stock valued at $242,640,000 after buying an additional 531,089 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of J.B. Hunt Transport Services by 423.1% in the first quarter. Renaissance Technologies LLC now owns 625,344 shares of the transportation company’s stock valued at $57,369,000 after buying an additional 505,800 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of J.B. Hunt Transport Services by 228.3% in the first quarter. Morgan Stanley now owns 618,315 shares of the transportation company’s stock valued at $56,724,000 after buying an additional 430,000 shares in the last quarter. 73.09% 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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