Credit Suisse analyst Allison Landry lowered her price target for J.B. Hunt to $121 from $148 due to a higher base year EBIT and a higher discount rate in her DCF model. The analyst reiterates an Outperform rating on the shares.

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Susquehanna lowered the firm's price target on J.B. Hunt to $185 from $195 and keeps a Neutral rating on the shares. The firm said they believe long-term investments will deliver meaningful profit growth when demand accelerates and pricing shifts to the company's favor but they don't see a catalyst to ignite that into mid-2024.

Stephens lowered the firm's price target on J.B. Hunt to $192 from $210 and keeps an Overweight rating on the shares. While the magnitude of the EPS downside was more pronounced than the firm had anticipated, Stephens continues to view J.B. Hunt as "very well positioned over the long term" due to tailwinds from various company-specific benefits and secular growth drivers, the analyst tells investors.

UBS lowered the firm's price target on J.B. Hunt to $211 from $234 and keeps a Buy rating on the shares. J.B. Hunt's Q1 EPS was a downside surprise despite declining expectations going into the report, the analyst tells investors in a research note. UBS thinks the key underlying driver is continuing weakness in the freight cycle which is causing increased competition and pressure on price and volumes.

Barclays lowered the firm's price target on J.B. Hunt to $170 from $200 and keeps an Equal Weight rating on the shares following the Q1 report. Weak intermodal volumes and lower pricing materially dragged on margins and set up for a likely significant reduction to market earnings expectations for J.B. Hunt, the analyst tells investors in a research note.

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The company states: "DCS revenue decreased 2% during the current quarter over the same period 2023, driven by a 1% decline in average trucks combined with a 1% decline in productivity (gross revenue per truck per week). Productivity excluding fuel surcharge revenue increased 1% from a year ago driven by contracted indexed-based price escalators, partially offset by an increase in idled equipment. On a net basis, there were 71 fewer revenue producing trucks in the fleet by the end of the quarter compared to the prior-year period, and 2 more versus the end of the fourth quarter 2023. Customer retention rates are approximately 91%, largely reflecting the downsizing of fleets and to a lesser extent account losses."