Hub Group price target lowered to $44 from $49 at Stephens

Stephens lowered the firm’s price target on Hub Group to $44 from $49 and keeps an Equal Weight rating on the shares. Hub Group’s business is tracking relatively in line with its expectations year-to-date, but there will likely be some puts-and-takes in the Q1 results, the analyst tells investors in a research note. While Stephens believes intermodal volumes have shown sequential improvement since January, the non-brokerage portions of the logistics business are stable and the recent acquisition of FAFM is progressing well, intermodal pricing has been competitive through the first half of bid season and the brokerage business has been weak and volatile due to cyclical pressure.