Heartland Express, Inc. (HTLD) Rating Reiterated by Robert W. Baird
Heartland Express, Inc. (NASDAQ:HTLD)‘s stock had its “hold” rating reiterated by investment analysts at Robert W. Baird in a research report issued on Sunday. They presently have a $24.00 price target on the transportation company’s stock. Robert W. Baird’s price target indicates a potential upside of 5.73% from the stock’s current price.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Heartland Express from a “buy” rating to a “sell” rating in a report on Monday, July 3rd. Morgan Stanley restated an “underweight” rating on shares of Heartland Express in a research report on Tuesday, July 11th. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target (up previously from $19.00) on shares of Heartland Express in a research report on Monday, July 10th. BidaskClub upgraded Heartland Express from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Finally, TheStreet cut Heartland Express from a “b-” rating to a “c+” rating in a research report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Heartland Express presently has an average rating of “Hold” and an average target price of $22.20.
Shares of Heartland Express (HTLD) opened at 22.70 on Friday. The company’s 50-day moving average price is $21.58 and its 200 day moving average price is $20.59. Heartland Express has a 12-month low of $17.06 and a 12-month high of $22.98. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 34.92 and a beta of 0.53.
Heartland Express (NASDAQ:HTLD) last posted its earnings results on Wednesday, August 2nd. The transportation company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Heartland Express had a net margin of 9.89% and a return on equity of 10.60%. The firm had revenue of $129.62 million during the quarter, compared to analysts’ expectations of $139.89 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, equities research analysts forecast that Heartland Express will post $0.70 EPS for the current fiscal year.
In related news, EVP John P. Cosaert sold 7,146 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $22.54, for a total value of $161,070.84. Following the transaction, the executive vice president now owns 57,668 shares in the company, valued at approximately $1,299,836.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 42.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dean Capital Management increased its position in Heartland Express by 137.7% during the 2nd quarter. Dean Capital Management now owns 215,880 shares of the transportation company’s stock worth $4,495,000 after purchasing an additional 125,060 shares during the period. The Manufacturers Life Insurance Company increased its position in Heartland Express by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,365 shares of the transportation company’s stock worth $799,000 after purchasing an additional 1,704 shares during the period. Janus Henderson Group PLC acquired a new position in Heartland Express during the 2nd quarter worth approximately $41,847,000. Royal Bank of Canada increased its position in Heartland Express by 3.8% during the 2nd quarter. Royal Bank of Canada now owns 27,697 shares of the transportation company’s stock worth $577,000 after purchasing an additional 1,006 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Heartland Express by 47.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 395,467 shares of the transportation company’s stock worth $8,233,000 after purchasing an additional 127,657 shares during the period. Institutional investors own 60.91% of the company’s stock.
About Heartland Express
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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