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Investing.com - UBS raised its price target on J.B. Hunt Transport Services (NASDAQ:JBHT) to $174.00 from $157.00 on Thursday, while maintaining a Neutral rating on the stock. According to InvestingPro data, the stock is currently trading near its Fair Value, with 11 analysts recently revising their earnings expectations downward for the upcoming period.
The price target increase follows J.B. Hunt’s third-quarter earnings report, which showed earnings per share of $1.76, significantly above the consensus estimate of $1.46 and UBS’s forecast of $1.48.
The transportation company’s intermodal segment was the primary driver of the earnings beat, with operating income exceeding UBS’s expectations by $19 million. J.B. Hunt reported a 100 basis point year-over-year improvement in intermodal margin, which was 130 basis points better than UBS had modeled.
J.B. Hunt’s purchased transportation expenses decreased by $48 million year-over-year across the company, contributing to the margin improvement. Management attributed the intermodal margin gains to increased back-haul loads and price increases on head-haul lanes.
The company’s Dedicated Contract Services (DCS) segment also performed well, delivering an 80 basis point year-over-year margin improvement, which was 100 basis points above UBS’s expectations.
In other recent news, J.B. Hunt Transport Services reported third-quarter earnings that significantly exceeded analyst expectations. The company posted earnings per share of $1.76, surpassing the FactSet consensus estimate of $1.46. Following this strong performance, Benchmark reiterated its Buy rating on J.B. Hunt with a price target of $165.00. Evercore ISI also raised its price target to $168.00, maintaining an Outperform rating, citing margin improvements as a key factor.
Meanwhile, Truist Securities increased its price target from $145.00 to $155.00, maintaining a Hold rating and noting $20 million in quarterly cost savings as a contributing factor. BMO Capital raised its price target to $180.00, maintaining an Outperform rating, acknowledging the company’s progress toward achieving $100 million in cost savings. TD Cowen maintained its Hold rating with a price target of $152.00 after a comprehensive investor day. These developments highlight the company’s recent financial achievements and the varied analyst perspectives on its future prospects.
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