BofA lowered the firm’s price target on J.B. Hunt (JBHT) to $194 from $197 and keeps a Buy rating on the shares after the company’s "ugly" Q1 report that included President Shelley Simpson stating "we are in a freight recession." The firm, which highlights that it had lowered its Truckload and LTL estimates by double digits it its Q1 preview for the group, points out that J.B. Hunt noted that the timing of the rebound appears to be a bit more delayed than originally expected and BofA says it’s going to be an "ugly quarter" based on the read across for other truckers. Other publicly traded companies in the space include ArcBest (ARCB), Knight-Swift (KNX), Old Dominion (ODFL), Swift Transportation (SWFT) and Werner (WERN).
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on JBHT:
- J.B. Hunt price target lowered to $191 from $200 at Evercore ISI
- J.B. Hunt’s Q1 shows rising cyclical pressure, resilience of DCS, says UBS
- J.B. Hunt price target lowered to $195 from $200 at Raymond James
- J.B. Hunt price target raised to $200 from $199 at JPMorgan
- J.B. Hunt reports Q1 EPS $1.89, consensus $2.02
