Hub Group (NASDAQ:HUBG) Downgraded to Hold at TD Cowen

TD Cowen downgraded shares of Hub Group (NASDAQ:HUBG) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat reports. TD Cowen currently has $43.00 price target on the transportation company’s stock, down from their previous price target of $50.00.

Several other research firms have also recently commented on HUBG. Susquehanna decreased their price target on shares of Hub Group from $49.00 to $46.00 and set a neutral rating on the stock in a research note on Monday, March 25th. Stephens decreased their price target on shares of Hub Group from $44.00 to $42.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on shares of Hub Group from $44.00 to $43.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. BMO Capital Markets decreased their price target on shares of Hub Group from $48.00 to $45.00 and set a market perform rating on the stock in a research note on Friday, April 26th. Finally, Benchmark reaffirmed a buy rating and issued a $49.00 price objective on shares of Hub Group in a research note on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $45.38.

Hub Group Stock Performance

NASDAQ HUBG opened at $44.70 on Thursday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 21.24 and a beta of 0.90. The company has a 50 day moving average of $43.20 and a 200-day moving average of $43.05. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.14. Hub Group has a 1-year low of $31.73 and a 1-year high of $47.58.

Hub Group (NASDAQ:HUBG) last released its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Hub Group had a net margin of 3.28% and a return on equity of 8.48%. The business had revenue of $1,000.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. Hub Group’s revenue was down 16.7% compared to the same quarter last year. On average, equities analysts forecast that Hub Group will post 2.03 earnings per share for the current fiscal year.

Hub Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th were given a dividend of $0.125 per share. The ex-dividend date was Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.12%. Hub Group’s dividend payout ratio is 23.75%.

Hedge Funds Weigh In On Hub Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HUBG. Vanguard Group Inc. boosted its position in shares of Hub Group by 99.1% during the first quarter. Vanguard Group Inc. now owns 6,883,930 shares of the transportation company’s stock worth $297,523,000 after purchasing an additional 3,427,047 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Hub Group by 99.5% during the first quarter. William Blair Investment Management LLC now owns 841,980 shares of the transportation company’s stock worth $36,390,000 after purchasing an additional 419,873 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Hub Group by 109.6% during the first quarter. Principal Financial Group Inc. now owns 702,443 shares of the transportation company’s stock worth $30,360,000 after purchasing an additional 367,345 shares in the last quarter. Norges Bank bought a new position in shares of Hub Group during the fourth quarter worth $31,439,000. Finally, LSV Asset Management boosted its position in shares of Hub Group by 88.0% during the first quarter. LSV Asset Management now owns 626,226 shares of the transportation company’s stock worth $27,065,000 after purchasing an additional 293,094 shares in the last quarter. 46.77% of the stock is owned by institutional investors.

About Hub Group

Hub Group, Inc, a supply chain solutions provider, offers transportation and logistics management services in North America. The company's transportation services include intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking, as well as final mile, railcar, small parcel, and international transportation.