JB Hunt Transport Services Inc.
(JBHT) opened at 33.62. So far today, the stock has hit a low of 33.41 and a high of 36.06. JBHT is now trading at 36.03, up 3.02 (8.98%). The stock hit its 52 week high of 36.32 in May and set its 52 week low of 23.28 in January. JBHT fell during the second half of 2007, but has moved to the upside since the beginning of this year. JB Hunt Transport Services shares have been surging with other trucking companies after competitor Old Dominion Freight Line Inc.
(ODFL) announced it expects second-quarter earnings above analysts' expectations, citing improved tonnage, stable pricing and better productivity. Technical indicators for the stock are bullish but deteriorating while S&P gives JBHT a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $30 range. JBHT stock could fall up to 16.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]