Selected stock price target news of the day - January 22nd, 2024

By: Matthew Otto

J.B. Hunt Increase in Intermodal Volumes Amidst Industry Challenges

J.B. Hunt Transport Services shared its financial performance for the fourth quarter of 2023. The company reported a 6% increase in Intermodal volumes during the quarter, showcasing a positive trend for nine consecutive months. However, the financials revealed a substantial impact as the company incurred an additional $53 million in insurance costs due to elevated claims expenses and surpassing coverage limits, reflecting industry-wide challenges with rising insurance rates and litigation settlements.

In the Integrated Capacity Solutions segment, a 25% decline in gross revenue was attributed to a 12% reduction in volume and a 15% decrease in revenue per load. Similarly, the Truckload segment reported a 19% decrease in gross revenue, with a 13% decline in revenue per load and a 7% reduction in volumes. The company outlined its capital expenditure plans for 2024, projecting a range between $800 million and $1 billion, primarily allocated to technology, capacity, and real estate investments.

Analysts Offer Varied Perspectives with Price Target Adjustments

Stifel analyst J. Bruce Chan reiterated a Hold rating and a $188 price target.
Baird analyst Benjamin Hartford maintained an Outperform rating and a $215 price target.
Raymond James analyst Patrick Tyler Brown kept an Outperform rating and raised the price target from $209 to $210.
Susquehanna analyst Bascome Majors maintained a Neutral rating and lowered the price target from $195 to $194.
Benchmark analyst Chris Kunh raised the price target to $215.
UBS analyst Thomas Wadewitz upgraded to a Buy rating.

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

Analyst Ken Hoexter (BAML) currently has the highest performing score on JBHT with 13/14 (92.86%) price target fulfillment ratio. His price targets carry an average of $22.13 (11.41%) potential upside. J.B. Hunt Transport Services stock price reaches these price targets on average within 171 days.

H.B. Fuller’s Q4 2023 Success and Optimistic 2024 Outlook

H.B. Fuller reported financial performance for the fourth quarter of 2023. The company achieved a 22% increase in adjusted EBITDA year-on-year, reaching $173 million. The financial results were underpinned by strategic initiatives, including pricing and raw material cost management, synergistic acquisitions, and restructuring actions. The company’s adjusted EBITDA margin also soared to 19.1%, marking a 440 basis points increase compared to the same period last year.

The company’s fiscal year 2024 outlook anticipates a net revenue growth between 2% and 6%, with organic revenue expected to be flat to up 3%. The projected adjusted EBITDA for 2024 is set to be in the range of $610 million to $640 million, reflecting a 5% to 10% increase year-on-year.

Mixed Analyst Ratings with Varied Price Targets

Baird analyst Ghansham Panjabi reiterated a Neutral rating and a $80 price target.
Stifel analyst Vincent Anderson maintained a Buy rating and raised the price target from $110 to $115.
JPMorgan analyst Jeffrey J. Zekauskas raised the price target to $70.
Deutsche Bank analyst David Begleiter kept a Buy rating and increased the price target from $84 to $85.

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

Analyst Ghansham Panjabi (BAIRD) currently has the highest performing score on FUL with 9/11 (81.82%) price target fulfillment ratio. His price targets carry an average of $3.25 (4.23%) potential upside. H.B. Fuller stock price reaches these price targets on average within 232 days.

M&T Bank Performance in 2023, Fueled by Strategic Growth and Capital Management

M&T Bank reported financial performance for the fourth quarter and full year of 2023. The bank’s pre-tax pre-provision revenue for the full year reached $4.2 billion, demonstrating a 22% increase from the previous year. M&T Bank had an operating leverage of 3.9%. The net charge-offs remained in line with long-term historical averages at 33 basis points, and GAAP net income for 2023 amounted to $2.7 billion, resulting in a 37% surge in diluted earnings per share to $15.79. The financial foundation is underscored by the CET1 ratio standing near 11%, emphasizing M&T Bank’s commitment to maintaining capital levels. Commercial and Industrial loans saw an 11% increase, surpassing $5 billion in growth.

Analysts Adjusted Price Targets Amid Market Evaluation

DA Davidson analyst Peter Winter maintained at Neutral rating and lowered the price target from $163 to $159.
Piper Sandler analyst Frank Schiraldi reiterated an Overweight rating and adjusted the price target down from $156 to $152.
RBC Capital analyst Gerard Cassidy kept an Outperform rating and the price target at $160.
Wedbush analyst David J. Chiaverini lowered the price target to $160.

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

Analyst Peter Winter (WEDBUSH) currently has the highest performing score on MTB with 5/9 (55.56%) price target fulfillment ratio. His price targets carry an average of $19.61 (14.07%) potential upside. M&T Bank stock price reaches these price targets on average within 268 days.