Hub Group, Inc. (NASDAQ:HUBG)‘s stock had its “market perform” rating reissued by equities researchers at Wells Fargo & Company in a note issued to investors on Thursday. They currently have a $46.00 price objective on the transportation company’s stock, up from their prior price objective of $37.00. Wells Fargo & Company’s target price would suggest a potential upside of 6.24% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other research firms have also recently issued reports on HUBG. Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of Hub Group in a report on Friday, October 6th. Loop Capital initiated coverage on Hub Group in a report on Tuesday, October 3rd. They set a “hold” rating and a $47.00 price objective for the company. KeyCorp restated a “neutral” rating on shares of Hub Group in a report on Friday, August 25th. Buckingham Research initiated coverage on Hub Group in a report on Friday, October 20th. They set a “neutral” rating and a $43.00 price objective for the company. Finally, Zacks Investment Research upgraded Hub Group from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.36.
Hub Group (NASDAQ:HUBG) last released its earnings results on Thursday, October 26th. The transportation company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Hub Group had a return on equity of 8.87% and a net margin of 1.39%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year.
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In other Hub Group news, Director Charles R. Reaves sold 6,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $37.60, for a total value of $225,600.00. Following the completion of the sale, the director now directly owns 67,947 shares in the company, valued at approximately $2,554,807.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of HUBG. Quantbot Technologies LP lifted its holdings in shares of Hub Group by 37.8% in the 2nd quarter. Quantbot Technologies LP now owns 3,338 shares of the transportation company’s stock worth $128,000 after buying an additional 915 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Hub Group by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,079 shares of the transportation company’s stock worth $195,000 after buying an additional 573 shares during the period. Amalgamated Bank purchased a new stake in shares of Hub Group in the 1st quarter worth $206,000. US Bancorp DE lifted its holdings in shares of Hub Group by 235.9% in the 2nd quarter. US Bancorp DE now owns 5,525 shares of the transportation company’s stock worth $212,000 after buying an additional 3,880 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Hub Group by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,608 shares of the transportation company’s stock worth $253,000 after buying an additional 2,918 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s stock.
About Hub Group
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. It operates through two business segments: Mode and Hub. The Mode segment markets and operates its freight transportation services, consisting of intermodal, truck brokerage and logistics, primarily through agents entering into contractual arrangements with Mode Transportation, LLC (Mode LLC).
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