J.B. Hunt price target lowered to $199 from $218 at Evercore ISI

Evercore ISI lowered the firm’s price target on J.B. Hunt to $199 from $218 and keeps an Outperform rating on the shares after the company reported Q1 EPS of $1.22, which was “well below our near-Street-low estimate of $1.41 and the average Street forecast of $1.53.” A reversal of intermodal volume and pricing trends from the prior period was the biggest driver of the miss, says the analyst, who notes that volumes were down 20 basis points year-over-year. Following the report, the firm s lowering its FY24 and FY25 EPS estimates to $6.25 from $6.95 and to $8.46 from $9.08, respectively.