JPMorgan Chase & Co. Cuts Hub Group (NASDAQ:HUBG) Price Target to $46.00

Hub Group (NASDAQ:HUBG) had its target price decreased by JPMorgan Chase & Co. from $50.00 to $46.00 in a research note published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

A number of other research analysts have also commented on the company. Weiss Ratings lowered Hub Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Barclays set a $30.00 price target on shares of Hub Group and gave the company an “equal weight” rating in a research note on Monday, September 28th. UBS Group reiterated a “neutral” rating on shares of Hub Group in a research note on Tuesday, September 15th. Stifel Nicolaus set a $29.00 target price on shares of Hub Group and gave the stock a “hold” rating in a research report on Thursday, October 1st. Finally, Wells Fargo & Company set a $35.00 price target on Hub Group in a research report on Monday, September 14th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.46.

Hub Group Stock Down 6.6%

Shares of NASDAQ:HUBG opened at $26.31 on Monday. Hub Group has a 12-month low of $26.22 and a 12-month high of $53.26. The business has a 50 day moving average of $37.15 and a 200-day moving average of $40.75. The stock has a market cap of $1.61 billion, a PE ratio of 15.21 and a beta of 1.24.

Hub Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, September 21st. Hub Group’s dividend payout ratio (DPR) is 28.90%.

Hedge Funds Weigh In On Hub Group

Several hedge funds and other institutional investors have recently modified their holdings of HUBG. Wellington Management Group LLP increased its stake in shares of Hub Group by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 7,446,774 shares of the transportation company’s stock valued at $326,094,000 after purchasing an additional 491,130 shares during the last quarter. Capital International Investors boosted its stake in Hub Group by 16.9% in the fourth quarter. Capital International Investors now owns 3,465,688 shares of the transportation company’s stock valued at $147,673,000 after buying an additional 501,955 shares in the last quarter. River Road Asset Management LLC boosted its stake in Hub Group by 6.6% in the fourth quarter. River Road Asset Management LLC now owns 1,320,784 shares of the transportation company’s stock valued at $56,279,000 after buying an additional 81,764 shares in the last quarter. Bank of America Corp DE grew its position in Hub Group by 8.1% in the first quarter. Bank of America Corp DE now owns 810,131 shares of the transportation company’s stock valued at $29,197,000 after acquiring an additional 61,025 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Hub Group by 2.0% in the first quarter. Principal Financial Group Inc. now owns 294,418 shares of the transportation company’s stock valued at $10,611,000 after acquiring an additional 5,731 shares during the last quarter. Institutional investors own 46.77% of the company’s stock.

Hub Group Company Profile

Hub Group, Inc (NASDAQ: HUBG) is a North American transportation and logistics company headquartered in Oak Brook, Illinois. The company helps businesses move goods through a combination of intermodal, truckload, less-than-truckload, final-mile and other transportation services.

Hub Group’s intermodal operations coordinate freight shipments using rail and trucks, while its brokerage business connects shippers with third-party transportation providers. The company also provides dedicated transportation, managed transportation, logistics, warehousing and supply chain solutions designed to support customers’ domestic freight and distribution needs.

Founded in 1971, Hub Group serves customers throughout the United States and maintains transportation capabilities extending into Canada and Mexico.