J.B. Hunt falls on lower quarterly profit, brokerages cut PT
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Shares of J. B. Hunt Transport Services JBHT.O fall 6.62% to $126 premarket
JBHT Q1 profit falls 7.6% on higher costs, contract service weakness
JBHT posts Q1 revenue of $2.92 bln vs analysts' estimate of $2.90 bln, according to data compiled by LSEG
At least five brokerages cut PT
"We are lowering our estimates in recognition of elevated macro uncertainty and to reflect potential downside risk to intermodal volumes" - BMO Capital Markets
"Intermodal bid season has been competitive, and we are now expecting less price growth this year" - Stephens
16 of 26 brokerages rate the stock "buy" or higher, 9 "hold" and one "sell"; their median PT is $165 - LSEG
As of last close, stock down ~21% YTD
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