Why Did J.B. Hunt Transport Services, Inc. (JBHT) Decrease -2.38% Today? This Could Be The Reason

An interesting stock that came up in some of our conversations today is J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT). At current price of $111.51, the shares have already lost -2.72 points (-2.38% lower) from its previous close of $114.23. Should you buy or avoid them? The stock sets an active trading volume day with a reported 125223 contracts so far this session. JBHT shares had a relatively better volume day versus average trading capacity of 813.01 thousand shares, but with a 84.94 million float and a 1.96% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for JBHT stock indicates that the average analyst price target is $118.39 per share. This means the stock has a potential increase of 6.17% from where the JBHT share price has been trading recently.

During the recent trading session for J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT), the company witnessed their stock drop by $-1.11 over a week and tumble down $-8.35 from the price 20 days ago. When compared to their established 52-week high of $122.29, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 07/11/19. The recent low of $83.64 stood for a -8.82% since 05/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.1 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for J.B. Hunt Transport Services, Inc., the two-week RSI stands at 43.35. This figure suggests that JBHT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current JBHT readings is similarly very revealing as it has a stochastic reading of 62.46% at this stage. This figure means that JBHT share price today is being neutral.

Technical chart claims that J.B. Hunt Transport Services, Inc. (JBHT) would settle between $115.05/share to $115.87/share level. However, if the stock price goes below the $113.07 mark, then the market for J.B. Hunt Transport Services, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $111.9 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.53. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Raymond James raised their recommendation on shares of JBHT from Mkt Perform to Outperform in their opinion released on January 21. Cowen analysts again handed out a Market Perform recommendation to J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) stock but they lifted target price for the shares in a flash note issued to investors on January 21. The target price has been raised from $120 to $118. Analysts at Bernstein lowered the stock to a Mkt Perform call from its previous Outperform recommendation, in a research note that dated back to January 06.

JBHT equity has an average rating of 2.77, with the figure leaning towards a bullish end. 22 analysts who tracked the company were contacted by Reuters. Amongst them, 18 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, JBHT stock price is currently trading at 17.84X forward 12-month Consensus EPS estimates, and its P/E ratio is 24 while for the average stock in the same group, the multiple is 24.4. J.B. Hunt Transport Services, Inc. current P/B ratio of 5.4 means it is trading at a premium against its industry’s 5.