Goldman Sachs analyst Jordan Alliger maintains $JB Hunt Transport Services (JBHT.US)$ with a buy rating, and adjusts the target price from $193 to $189.
According to TipRanks data, the analyst has a success rate of 53.4% and a total average return of 7.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $JB Hunt Transport Services (JBHT.US)$'s main analysts recently are as follows:
The revised outlook for the second half of 2024 is influenced by an anticipated decrease in load volumes. The expectation is for volumes to show a 1% reduction in Q3 and to stabilize in Q4.
The initiation of coverage on the transportation and logistics industry reflects a broadly optimistic outlook. The analysis suggests that the industry's cyclical downturn is nearing its end, with current rates and margins close to their lowest points. This scenario presents an opportunity for significant earnings growth in the coming years as rates rebound. The favorable perspective is reinforced by the belief that many companies in the sector boast robust management teams known for their judicious deployment of capital. Furthermore, the essential and irreplaceable nature of transportation services within the North American economy is seen as a buffer against disruption or replacement risks. A recommendation has been made to investors to align their portfolios in anticipation of a cyclical upturn, favoring businesses poised to benefit disproportionately as freight conditions improve.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
