Raymond James Financial Cuts Hub Group (NASDAQ:HUBG) Price Target to $40.00

Hub Group (NASDAQ:HUBG) had its target price trimmed by Raymond James Financial from $48.00 to $40.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

A number of other research firms have also weighed in on HUBG. Wells Fargo & Company set a $35.00 target price on shares of Hub Group in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hub Group in a research report on Wednesday, June 24th. Finally, UBS Group reiterated a “neutral” rating on shares of Hub Group in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hub Group presently has an average rating of “Hold” and an average target price of $42.69.

Hub Group Trading Down 2.0%

Shares of Hub Group stock opened at $32.72 on Thursday. The firm has a fifty day simple moving average of $42.16 and a 200-day simple moving average of $41.45. Hub Group has a 1-year low of $31.41 and a 1-year high of $53.26. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.93 and a beta of 1.19.

Hub Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, September 21st. Hub Group’s payout ratio is currently 28.90%.

Institutional Trading of Hub Group

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Hub Group by 10.6% during the second quarter. Versant Capital Management Inc now owns 2,588 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 248 shares during the period. ProShare Advisors LLC lifted its position in Hub Group by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 11,631 shares of the transportation company’s stock worth $496,000 after purchasing an additional 355 shares during the period. Nykredit A S acquired a new stake in Hub Group during the second quarter worth $25,000. NewEdge Advisors LLC boosted its stake in Hub Group by 10.7% during the first quarter. NewEdge Advisors LLC now owns 6,880 shares of the transportation company’s stock worth $248,000 after buying an additional 666 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Hub Group by 8.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,315 shares of the transportation company’s stock valued at $336,000 after buying an additional 705 shares during the period. Institutional investors own 46.77% of the company’s stock.

Hub Group Company Profile

Hub Group, Inc is a North American transportation and logistics company that provides supply chain solutions to manufacturers, retailers, distributors and other businesses. Its services are designed to help customers move freight efficiently across multiple modes of transportation and manage related logistics activities.

The company’s primary offerings include intermodal transportation, which combines rail and truck services; truck brokerage; dedicated and managed transportation; and final-mile and other logistics services.