These Analysts Slash Their Forecasts On J.B. Hunt Transport After Q1 Earnings

J.B. Hunt Transport Services Inc. JBHT reported a 7.6% decline in profit for the first quarter on Tuesday.

The company posted quarterly revenue of $2.92 billion, compared to market estimates of $2.90 billion. Earnings came in at $1.17 per share, versus estimates of $1.19 per share.

J.B. Hunt said it repurchased approximately 1.4 million shares of its common stock in the first quarter for approximately $234 million. The company had approximately $650 million remaining under its buyback at quarter's end.

JB Hunt did not provide forward guidance in the earnings release. Management will further discuss the quarter on a conference call scheduled for 5 p.m. ET.

J.B. Hunt Transport shares dipped 5.7% to trade at $127.46 on Wednesday.

These analysts made changes to their price targets on J.B. Hunt Transport following earnings announcement.

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Stephens & Co. analyst Justin Long maintained JB Hunt Transport with an Overweight rating and lowered the price target from $170 to $165.
Stifel analyst J. Bruce Chan maintained the stock with a Hold and lowered the price target from $158 to $150.

Considering buying JBHT stock? Here’s what analysts think: