J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) Sees Significant Growth in Short Interest

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,130,000 shares, an increase of 25.2% from the February 13th total of 2,500,000 shares. Based on an average daily trading volume, of 858,100 shares, the days-to-cover ratio is currently 3.6 days. Currently, 3.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on JBHT shares. Raymond James decreased their target price on shares of J.B. Hunt Transport Services from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on shares of J.B. Hunt Transport Services from $167.00 to $161.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Truist Financial initiated coverage on shares of J.B. Hunt Transport Services in a research note on Thursday, March 13th. They set a “hold” rating and a $165.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of J.B. Hunt Transport Services in a research note on Friday, January 17th. Finally, TD Cowen reduced their price objective on shares of J.B. Hunt Transport Services from $180.00 to $171.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.80.

Insiders Place Their Bets

In other news, Director James K. Thompson sold 4,400 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $175.37, for a total value of $771,628.00. Following the completion of the transaction, the director now directly owns 23,559 shares in the company, valued at approximately $4,131,541.83. This represents a 15.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darren P. Field sold 1,200 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $161.67, for a total transaction of $194,004.00. Following the completion of the transaction, the executive vice president now owns 17,822 shares of the company’s stock, valued at $2,881,282.74. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

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

Large investors have recently made changes to their positions in the business. True Wealth Design LLC boosted its position in shares of J.B. Hunt Transport Services by 2,028.6% during the 3rd 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 in the last quarter. National Pension Service bought a new position in shares of J.B. Hunt Transport Services during the 4th quarter valued at about $30,000. BankPlus Trust Department bought a new position in shares of J.B. Hunt Transport Services during the 4th quarter valued at about $34,000. Versant Capital Management Inc boosted its position in shares of 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 valued at $48,000 after purchasing an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of J.B. Hunt Transport Services by 68.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 329 shares of the transportation company’s stock worth $56,000 after buying an additional 134 shares during the period. Institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

Shares of JBHT opened at $147.13 on Wednesday. The firm has a 50-day moving average price of $167.13 and a 200 day moving average price of $173.34. The firm has a market capitalization of $14.71 billion, a PE ratio of 26.46, a P/E/G ratio of 1.61 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. J.B. Hunt Transport Services has a 52-week low of $145.32 and a 52-week high of $200.40.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its quarterly earnings data on Thursday, January 16th. 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 4.72% and a return on equity of 14.05%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $1.47 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that J.B. Hunt Transport Services will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $0.44 per share. This is a positive change from J.B. Hunt Transport Services’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, February 7th. This represents a $1.76 annualized dividend and a dividend yield of 1.20%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is 31.65%.

J.B. Hunt Transport Services Company Profile

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.