JBHT is looking to snap a five-day win streak
J.B. Hunt Transport Services Inc (NASDAQ:JBHT) stock is slipping today following the ground freight and logistics company’s disappointing second-quarter results, with profits falling 24% due to industry headwinds. Plenty of analysts adjusted their price targets after the event, including a hike from J.P. Morgan Securities to $201 from $184, and a cut from Barclays to $160 from $170.
At last glance, JBHT was down 7.2% at $163.31, looking to snap a five-day win streak. That small rally further removed the stock from its June 14, three-year low of $153.12, though it’s still down 18.3% this year.
The equity’s “oversold” position could be contributing to today’s negative price action. This is per JBHT’s 14-day relative strength index (RSI) of 85.9.
Over in the options pits, 2,614 calls and 4,079 puts have been exchanged so far today — already eight times the average daily options volume. The July 160 and 165 puts are the most popular contracts.