S&P Capital IQ Downgrades JB Hunt From BUY to HOLD, Target Price Reduced

October 15 00:00 2011

NEW YORK, October 15 (RainbowNewsLine.com) – Analyst Kevin Kirkeby of S&P Capital IQ has downgraded the shares of JB Hunt (NASDAQ: JBHT) from BUY to HOLD. The target price has been reduced from $54 to $46.

Analyst Kevin Kirkeby, in a research note published yesterday mentions that the company reported its Q3 EPS inline with the estimate as  fuel adjusted revenues rose 11% and margins were largely unchanged. JB Hunt is involved in active stock buyback program and the fortification of its container fleet is near completion, the analyst says. The analyst believes that the pace of earnings growth would slow as the company focuses on reducing its balance sheet leverage and optimizing utilization rates.