Benchmark lowered the firm’s price target on J.B. Hunt to $200 from $215 and keeps a Buy rating on the shares following a meaningful EPS miss due to lower-than-expected operating profit in all segments. Despite estimate reductions going into the report, J.B. Hunt’s results reflect a freight environment that is still negatively impacted by excess capacity, which is pressuring price, says the firm, which wonders if it is “time for companies to stop blaming overcapacity and start making their own cuts.”
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