Baird Lowers Hub Group to Neutral After $77M Accounting Shortfall, Trims Target to $29
Baird cut Hub Group's rating from Outperform to Neutral and pared its price objective to $29 from $47 after the company disclosed an accounting error that understated purchased transportation costs and accounts payable by $77 million for the first nine months of 2025. The disclosure has prompted restatement expectations, a delayed audited filing an…