Intrinsic value of Hub Group Cl A - HUBG

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$34.65

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$34.65

 
Intrinsic value

$138.59

 
Up/down potential

+300%

 
Rating

str. buy

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of HUBG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  1.33
  10.80
  10.22
  9.70
  9.23
  8.81
  8.42
  8.08
  7.77
  7.50
  7.25
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.07
  5.97
  5.87
  5.78
  5.71
  5.63
  5.57
  5.51
  5.46
  5.42
  5.37
  5.34
  5.30
  5.27
Revenue, $m
  3,573
  3,959
  4,363
  4,787
  5,228
  5,689
  6,168
  6,667
  7,185
  7,723
  8,283
  8,865
  9,469
  10,098
  10,752
  11,432
  12,140
  12,878
  13,646
  14,447
  15,283
  16,155
  17,065
  18,016
  19,009
  20,047
  21,133
  22,269
  23,458
  24,702
  26,004
Variable operating expenses, $m
 
  3,366
  3,708
  4,065
  4,437
  4,826
  5,230
  5,651
  6,088
  6,542
  7,014
  7,479
  7,989
  8,519
  9,071
  9,645
  10,242
  10,864
  11,513
  12,189
  12,894
  13,629
  14,397
  15,199
  16,037
  16,913
  17,829
  18,788
  19,790
  20,840
  21,939
Fixed operating expenses, $m
 
  428
  439
  450
  461
  473
  485
  497
  509
  522
  535
  548
  562
  576
  591
  605
  621
  636
  652
  668
  685
  702
  720
  738
  756
  775
  794
  814
  835
  855
  877
Total operating expenses, $m
  3,449
  3,794
  4,147
  4,515
  4,898
  5,299
  5,715
  6,148
  6,597
  7,064
  7,549
  8,027
  8,551
  9,095
  9,662
  10,250
  10,863
  11,500
  12,165
  12,857
  13,579
  14,331
  15,117
  15,937
  16,793
  17,688
  18,623
  19,602
  20,625
  21,695
  22,816
Operating income, $m
  124
  164
  217
  272
  330
  390
  453
  519
  588
  659
  734
  837
  918
  1,002
  1,090
  1,182
  1,277
  1,377
  1,481
  1,590
  1,704
  1,823
  1,948
  2,079
  2,216
  2,359
  2,509
  2,667
  2,833
  3,006
  3,189
EBITDA, $m
  169
  221
  277
  335
  396
  460
  527
  597
  670
  745
  824
  906
  992
  1,081
  1,174
  1,270
  1,371
  1,477
  1,587
  1,702
  1,823
  1,949
  2,080
  2,218
  2,363
  2,514
  2,673
  2,840
  3,014
  3,198
  3,390
Interest expense (income), $m
  4
  4
  7
  10
  13
  16
  19
  22
  25
  29
  32
  36
  40
  44
  48
  53
  57
  62
  67
  72
  77
  83
  89
  95
  101
  108
  115
  122
  130
  138
  146
Earnings before tax, $m
  121
  160
  210
  262
  317
  375
  435
  497
  563
  631
  701
  801
  878
  958
  1,042
  1,129
  1,220
  1,315
  1,415
  1,518
  1,627
  1,741
  1,859
  1,984
  2,114
  2,251
  2,395
  2,545
  2,703
  2,869
  3,042
Tax expense, $m
  46
  43
  57
  71
  86
  101
  117
  134
  152
  170
  189
  216
  237
  259
  281
  305
  329
  355
  382
  410
  439
  470
  502
  536
  571
  608
  647
  687
  730
  775
  821
Net income, $m
  75
  117
  153
  191
  232
  274
  317
  363
  411
  460
  512
  585
  641
  700
  761
  824
  891
  960
  1,033
  1,108
  1,188
  1,271
  1,357
  1,448
  1,544
  1,643
  1,748
  1,858
  1,973
  2,094
  2,221

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  127
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,360
  1,366
  1,506
  1,652
  1,804
  1,963
  2,128
  2,300
  2,479
  2,665
  2,858
  3,059
  3,268
  3,484
  3,710
  3,945
  4,189
  4,444
  4,709
  4,985
  5,274
  5,574
  5,888
  6,217
  6,559
  6,918
  7,292
  7,684
  8,094
  8,524
  8,973
Adjusted assets (=assets-cash), $m
  1,233
  1,366
  1,506
  1,652
  1,804
  1,963
  2,128
  2,300
  2,479
  2,665
  2,858
  3,059
  3,268
  3,484
  3,710
  3,945
  4,189
  4,444
  4,709
  4,985
  5,274
  5,574
  5,888
  6,217
  6,559
  6,918
  7,292
  7,684
  8,094
  8,524
  8,973
Revenue / Adjusted assets
  2.898
  2.898
  2.897
  2.898
  2.898
  2.898
  2.898
  2.899
  2.898
  2.898
  2.898
  2.898
  2.897
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
  2.898
Average production assets, $m
  419
  463
  511
  560
  612
  666
  722
  780
  841
  904
  969
  1,037
  1,108
  1,181
  1,258
  1,338
  1,420
  1,507
  1,597
  1,690
  1,788
  1,890
  1,997
  2,108
  2,224
  2,346
  2,473
  2,605
  2,745
  2,890
  3,043
Working capital, $m
  204
  139
  153
  168
  183
  199
  216
  233
  251
  270
  290
  310
  331
  353
  376
  400
  425
  451
  478
  506
  535
  565
  597
  631
  665
  702
  740
  779
  821
  865
  910
Total debt, $m
  174
  200
  278
  359
  443
  531
  623
  719
  818
  921
  1,028
  1,140
  1,256
  1,376
  1,501
  1,631
  1,767
  1,908
  2,055
  2,209
  2,369
  2,536
  2,710
  2,892
  3,082
  3,281
  3,489
  3,707
  3,934
  4,173
  4,422
Total liabilities, $m
  732
  758
  836
  917
  1,001
  1,089
  1,181
  1,277
  1,376
  1,479
  1,586
  1,698
  1,814
  1,934
  2,059
  2,189
  2,325
  2,466
  2,613
  2,767
  2,927
  3,094
  3,268
  3,450
  3,640
  3,839
  4,047
  4,265
  4,492
  4,731
  4,980
Total equity, $m
  628
  608
  670
  735
  803
  874
  947
  1,024
  1,103
  1,186
  1,272
  1,361
  1,454
  1,551
  1,651
  1,755
  1,864
  1,977
  2,095
  2,218
  2,347
  2,481
  2,620
  2,766
  2,919
  3,078
  3,245
  3,420
  3,602
  3,793
  3,993
Total liabilities and equity, $m
  1,360
  1,366
  1,506
  1,652
  1,804
  1,963
  2,128
  2,301
  2,479
  2,665
  2,858
  3,059
  3,268
  3,485
  3,710
  3,944
  4,189
  4,443
  4,708
  4,985
  5,274
  5,575
  5,888
  6,216
  6,559
  6,917
  7,292
  7,685
  8,094
  8,524
  8,973
Debt-to-equity ratio
  0.277
  0.330
  0.410
  0.490
  0.550
  0.610
  0.660
  0.700
  0.740
  0.780
  0.810
  0.840
  0.860
  0.890
  0.910
  0.930
  0.950
  0.970
  0.980
  1.000
  1.010
  1.020
  1.030
  1.050
  1.060
  1.070
  1.080
  1.080
  1.090
  1.100
  1.110
Adjusted equity ratio
  0.406
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  75
  117
  153
  191
  232
  274
  317
  363
  411
  460
  512
  585
  641
  700
  761
  824
  891
  960
  1,033
  1,108
  1,188
  1,271
  1,357
  1,448
  1,544
  1,643
  1,748
  1,858
  1,973
  2,094
  2,221
Depreciation, amort., depletion, $m
  45
  57
  60
  63
  67
  70
  74
  78
  82
  86
  90
  69
  73
  78
  83
  89
  94
  100
  106
  112
  118
  125
  132
  140
  147
  155
  164
  173
  182
  191
  201
Funds from operations, $m
  64
  174
  213
  255
  298
  344
  391
  441
  493
  546
  602
  654
  715
  778
  844
  913
  985
  1,060
  1,138
  1,220
  1,306
  1,396
  1,490
  1,588
  1,691
  1,799
  1,912
  2,030
  2,155
  2,285
  2,423
Change in working capital, $m
  -38
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  33
  35
  36
  38
  40
  42
  44
  46
Cash from operations, $m
  102
  191
  199
  240
  283
  328
  375
  423
  474
  528
  583
  633
  693
  756
  821
  889
  960
  1,034
  1,111
  1,192
  1,277
  1,365
  1,458
  1,555
  1,656
  1,762
  1,874
  1,991
  2,113
  2,242
  2,377
Maintenance CAPEX, $m
  0
  -28
  -31
  -34
  -37
  -41
  -44
  -48
  -52
  -56
  -60
  -64
  -69
  -73
  -78
  -83
  -89
  -94
  -100
  -106
  -112
  -118
  -125
  -132
  -140
  -147
  -155
  -164
  -173
  -182
  -191
New CAPEX, $m
  -107
  -44
  -47
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -65
  -68
  -71
  -74
  -76
  -80
  -83
  -86
  -90
  -94
  -98
  -102
  -106
  -111
  -116
  -121
  -127
  -133
  -139
  -146
  -152
Cash from investing activities, $m
  -105
  -72
  -78
  -84
  -89
  -95
  -100
  -106
  -113
  -119
  -125
  -132
  -140
  -147
  -154
  -163
  -172
  -180
  -190
  -200
  -210
  -220
  -231
  -243
  -256
  -268
  -282
  -297
  -312
  -328
  -343
Free cash flow, $m
  -3
  119
  121
  157
  194
  233
  274
  317
  362
  409
  457
  501
  554
  609
  666
  726
  789
  854
  922
  993
  1,067
  1,145
  1,226
  1,311
  1,400
  1,494
  1,591
  1,694
  1,802
  1,915
  2,033
Issuance/(repayment) of debt, $m
  25
  74
  77
  81
  85
  88
  92
  95
  99
  103
  107
  111
  116
  120
  125
  130
  136
  141
  147
  153
  160
  167
  174
  182
  190
  199
  208
  218
  228
  238
  249
Issuance/(repurchase) of shares, $m
  -100
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -77
  74
  77
  81
  85
  88
  92
  95
  99
  103
  107
  111
  116
  120
  125
  130
  136
  141
  147
  153
  160
  167
  174
  182
  190
  199
  208
  218
  228
  238
  249
Total cash flow (excl. dividends), $m
  -80
  193
  198
  238
  279
  321
  366
  413
  461
  512
  565
  613
  670
  729
  792
  857
  924
  995
  1,069
  1,146
  1,227
  1,312
  1,400
  1,493
  1,590
  1,692
  1,799
  1,912
  2,029
  2,153
  2,283
Retained Cash Flow (-), $m
  20
  -59
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -89
  -93
  -97
  -100
  -104
  -109
  -113
  -118
  -123
  -128
  -134
  -140
  -146
  -153
  -159
  -167
  -174
  -183
  -191
  -200
Prev. year cash balance distribution, $m
 
  79
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  213
  136
  173
  211
  251
  293
  336
  382
  429
  479
  523
  577
  633
  691
  752
  816
  882
  951
  1,023
  1,099
  1,178
  1,261
  1,347
  1,438
  1,533
  1,633
  1,737
  1,847
  1,962
  2,083
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  205
  125
  150
  174
  194
  212
  227
  239
  247
  251
  248
  246
  241
  232
  221
  207
  192
  175
  158
  140
  122
  105
  88
  73
  60
  48
  37
  29
  21
  16
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Hub Group, Inc., an asset-light freight transportation management company, provides intermodal, truck brokerage, and logistics services in North America. The company operates through two segments, Mode and Hub. Its intermodal services include arranging for the movement of customers' freight in containers and trailers over long distances. The company contracts with railroads to provide transportation for the long-haul portion of the shipment, and with local trucking companies for pickup and delivery. Its intermodal services also comprise negotiating rail and drayage rates, electronically tracking shipments in transit, and consolidate billing and handling claims for freight loss and damage on behalf of customers. The company also offers truck brokerage services, as well as a range of transportation management services and technology solutions, including shipment optimization, load consolidation, mode selection, carrier management, load planning and execution, and Web-based shipment visibility under the Unyson Logistics name. Its multi-modal transportation includes small parcel, heavyweight, expedited, less-than-truckload, truckload, intermodal, and railcar. The company primarily serves customers in consumer products, retail, and durable goods industries. Hub Group, Inc. was founded in 1971 and is headquartered in Oak Brook, Illinois.

FINANCIAL RATIOS  of  Hub Group Cl A (HUBG)

Valuation Ratios
P/E Ratio 15.6
Price to Sales 0.3
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow -234.6
Growth Rates
Sales Growth Rate 1.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 28.9%
Cap. Spend. - 3 Yr. Gr. Rate -0.7%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 20.1%
Total Debt to Equity 27.7%
Interest Coverage 31
Management Effectiveness
Return On Assets 5.8%
Ret/ On Assets - 3 Yr. Avg. 5.4%
Return On Total Capital 9.4%
Ret/ On T. Cap. - 3 Yr. Avg. 8.9%
Return On Equity 11.8%
Return On Equity - 3 Yr. Avg. 10.7%
Asset Turnover 2.7
Profitability Ratios
Gross Margin 12.7%
Gross Margin - 3 Yr. Avg. 11.6%
EBITDA Margin 4.8%
EBITDA Margin - 3 Yr. Avg. 4.1%
Operating Margin 3.5%
Oper. Margin - 3 Yr. Avg. 3%
Pre-Tax Margin 3.4%
Pre-Tax Margin - 3 Yr. Avg. 3%
Net Profit Margin 2.1%
Net Profit Margin - 3 Yr. Avg. 1.9%
Effective Tax Rate 38%
Eff/ Tax Rate - 3 Yr. Avg. 37.1%
Payout Ratio 0%

HUBG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HUBG stock intrinsic value calculation we used $3573 million for the last fiscal year's total revenue generated by Hub Group Cl A. The default revenue input number comes from 2016 income statement of Hub Group Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HUBG stock valuation model: a) initial revenue growth rate of 10.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for HUBG is calculated based on our internal credit rating of Hub Group Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Hub Group Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HUBG stock the variable cost ratio is equal to 85.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $418 million in the base year in the intrinsic value calculation for HUBG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Hub Group Cl A.

Corporate tax rate of 27% is the nominal tax rate for Hub Group Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HUBG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HUBG are equal to 11.7%.

Life of production assets of 15.1 years is the average useful life of capital assets used in Hub Group Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HUBG is equal to 3.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $628 million for Hub Group Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.018 million for Hub Group Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Hub Group Cl A at the current share price and the inputted number of shares is $1.2 billion.


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COMPANY NEWS

▶ Hub Group Announces the Acquisition of Estenson Logistics   [May-25-17 05:03PM  GlobeNewswire]
▶ ETFs with exposure to Hub Group, Inc. : May 16, 2017   [May-16-17 12:53PM  Capital Cube]
▶ Peter McNitt Joins Hub Groups Board of Directors   [May-10-17 06:45PM  GlobeNewswire]
▶ Hub Group beats Street 1Q forecasts   [Apr-26-17 05:51PM  Associated Press]
▶ Glut of Vehicles, Uneven Demand Put Trucking Profits in the Crosshairs   [Apr-17-17 12:38AM  The Wall Street Journal]
▶ Glut of Vehicles, Uneven Demand Put Trucking Profits in the Crosshairs   [Apr-15-17 07:00AM  The Wall Street Journal]
▶ Story Stocks from Briefing.com   [09:12AM  Briefing.com]
▶ New Strong Buy Stocks for April 4th   [Apr-04-17 10:12AM  Zacks]
▶ Top Ranked Value Stocks to Buy for March 21st   [Mar-21-17 10:03AM  Zacks]
▶ Toyota Names Unyson Strategic Provider of the Year for 2016   [Mar-14-17 01:00PM  GlobeNewswire]
▶ CI Capital Partners Acquires Simplified Logistics   [Mar-06-17 08:00AM  PR Newswire]
▶ Trucking Companies Increase 'Dedicated' Fleets for Use by Clients   [Feb-23-17 01:54PM  at The Wall Street Journal]
▶ ATA Names Hub Group Trucking a Top 3 Safest Carrier   [Nov-28-16 04:15PM  GlobeNewswire]
▶ Logistics Operators C.H. Robinson, Hub Report Profit Gains   [Jul-27-16 03:38PM  at The Wall Street Journal]
▶ Hub Group Lays Out Acquisition Strategy   [Apr-27-16 03:46PM  at The Wall Street Journal]
Stock chart of HUBG Financial statements of HUBG Annual reports of HUBG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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