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

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,990,000 shares, a drop of 16.9% from the March 15th total of 3,600,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 2.8 days.

J.B. Hunt Transport Services Trading Up 2.0 %

Shares of NASDAQ:JBHT traded up $2.61 during trading on Thursday, reaching $132.97. 968,435 shares of the company traded hands, compared to its average volume of 946,449. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. J.B. Hunt Transport Services has a 52-week low of $122.79 and a 52-week high of $200.40. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 1.61 and a beta of 1.27. The business's fifty day moving average is $148.34 and its 200-day moving average is $167.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The transportation company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.02. 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 $2.92 billion during the quarter, compared to analysts' expectations of $2.92 billion. As a group, analysts forecast that J.B. Hunt Transport Services will post 6.37 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on JBHT. Stifel Nicolaus set a $150.00 price target on shares of J.B. Hunt Transport Services in a report on Wednesday, April 16th. Benchmark reissued a "buy" rating and set a $175.00 price objective on shares of J.B. Hunt Transport Services in a research note on Wednesday, April 16th. Barclays decreased their target price on J.B. Hunt Transport Services from $180.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. UBS Group lowered their price target on J.B. Hunt Transport Services from $196.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Stephens cut their price objective on J.B. Hunt Transport Services from $170.00 to $165.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $162.20.

Insiders Place Their Bets

In other news, EVP Darren P. Field sold 1,200 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $161.67, for a total transaction of $194,004.00. Following the sale, the executive vice president now directly owns 17,822 shares in the company, valued at $2,881,282.74. This represents a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of J.B. Hunt Transport Services

Several large investors have recently modified their holdings of JBHT. National Pension Service purchased a new stake in J.B. Hunt Transport Services in the 4th quarter worth approximately $30,000. BankPlus Trust Department bought a new position in shares of J.B. Hunt Transport Services during the fourth quarter valued at approximately $34,000. Versant Capital Management Inc lifted its stake in J.B. Hunt Transport Services by 102.2% in the fourth quarter. Versant Capital Management Inc now owns 281 shares of the transportation company's stock worth $48,000 after acquiring an additional 142 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in 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 valued at $56,000 after acquiring an additional 134 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in J.B. Hunt Transport Services by 33.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 340 shares of the transportation company's stock valued at $58,000 after purchasing an additional 86 shares during the period. 74.95% of the stock is owned by institutional investors.

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.