Selected stock price target news of the day - April 17th, 2024

By: Matthew Otto

J.B. Hunt Faces Revenue Decline in First Quarter of 2024 Amidst Industry Challenges

J.B. Hunt Transport Services reported performance in the first quarter of 2024, marked by a 9% decline in consolidated revenue and a 30% drop in operating income compared to the previous year. J.B. Hunt reported a 26% decrease in gross revenue for its Integrated Capacity Solutions segment, driven by a 22% reduction in volume and a 5% decline in revenue per load. Similarly, the Truckload segment experienced a 13% decrease in gross revenue, with revenue per load down by 9% and volumes down by 5%.

J.B. Hunt has identified approximately $100 million in costs related to excess resources, primarily in personnel and capacity, which it aims to address while preserving future growth potential. Additionally, J.B. Hunt is targeting a net capital expenditure between $800 million to $1 billion for 2024.

Analysts Maintain Ratings Amidst Price Target Adjustments

Susquehanna analyst Bascome Majors maintained a Neutral rating and lowered the price target from $195 to $185.
Benchmark analyst Christopher Kuhn reiterated a Buy rating and a $215 price target.
Baird analyst Benjamin Hartford reiterated an Outperform rating yet lowered the price target from $215 to $205.
Stephens & Co. analyst Justin Long maintained an Overweight rating but decreased the price target from $210 to $192.
BofA Securities analyst Ken Hoexter kept a Buy rating and lowered the price target from $215 to $199.

Which Analyst has the best track record to show on JBHT?

Analyst Bascome Majors (SUSQUEHANNA) currently has the highest performing score on JBHT with 15/16 (93.75%) price target fulfillment ratio. His price targets carry an average of $1.29 (0.67%) potential upside. J.B. Hunt Transport Services stock price reaches these price targets on average within 92 days.

FB Financial Delivers Growth and Stability in First Quarter 2024 Earnings

FB Financial Corporation’s first-quarter 2024 results underscore financial performance, with figures across key metrics. The company reported an EPS of $0.59, accompanied by an adjusted EPS of $0.85, marking a compound annual growth rate of 13.5% in tangible book value per share since its IPO.

FB Financial achieved an adjusted return on average assets of 1.27%, complemented by a 12.8% growth in adjusted pre-provision net revenue compared to the prior quarter. With a tangible common equity to tangible assets ratio of 10% and a total risk-based capital ratio of 15%.

Credit losses, now standing at 1.63% of loans held for investment. Operational efficiencies drove down core non-interest expenses to $71.9 million, with the banking segment expenses totaling $59.8 million for the quarter.

Analysts Mixed Ratings and Price Targets Following Q1 Earnings

Piper Sandler analyst Stephen Scouten upgraded from Neutral to Overweight and set a $41 price target.
Hovde Group analyst Brett Rabatin upgraded from Market Perform to Outperform.
Stephens analyst Matt Olney lowered the price target to $39.

Which Analyst has the best track record to show on FBK?

Analyst Soomit Datta (NEW STREET) currently has the highest performing score on FBK with 1/4 (25%) price target fulfillment ratio. His price targets carry an average of $6.77 (37.14%) potential upside. FB Financial Corporation stock price reaches these price targets on average within 5 days.

Hancock Whitney’s First Quarter 2024 Earnings Reflect Steady Growth and Stability

Hancock Whitney has unveiled its first-quarter financial results for 2024, reporting a net income of $109 million, or $1.24 per share, for the quarter. Adjusted for the FDIC special assessment, net income would have stood at $112 million, or $1.28 per share. Meanwhile, adjusted pre-provision net revenue reached $153 million, down $3 million from the previous quarter but in line with expectations. Hancock Whitney witnessed a 5 basis points expansion in net interest margin, reaching 3.32%, driven by higher securities yields and improved funding mix.

Hancock Whitney revealed a loan yield improvement to 6.16% for the quarter, a 5 basis points increase from the previous quarter. Total deposit beta remained at 37% cycle to date, while deposit costs rose by 8 basis points to 2.01%. Hancock Whitney saw a deposit growth of $86 million during the quarter, with client deposits up $281 million excluding the impact of brokered deposits. Furthermore, Hancock Whitney’s capital metrics continued to strengthen, with tangible common equity growing to 8.62% and common equity Tier 1 ratio reaching 12.67%.

Analysts Update Price Targets and Ratings for Hancock Whitney

Piper Sandler analyst Stephen Scouten reiterated an Overweight rating yet lowered the price target from $55 to $52.
Truist Securities analyst Jennifer Demba maintained a Hold rating and decreased the price target from $50 to $46.
Piper Sandler analyst Brett Rabatin kept an Overweight rating yet lowered the price target from $55 to $52.
DA Davidson analyst Gary Tenner raised the price target from $55 to $57.

Which Analyst has the best track record to show on HWC?

Analyst Ken Usdin (JEFFERIES) currently has the highest performing score on HWC with 5/7 (71.43%) price target fulfillment ratio. His price targets carry an average of $5.71 (12.34%) potential upside. Hancock Whitney stock price reaches these price targets on average within 66 days.