Heartland Express, Inc. (HTLD) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Heartland Express, Inc. (NASDAQ:HTLD) from a sell rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Heartland Express, Inc. is a short-to-medium haul truckload carrier based near Iowa City, Iowa. The Company provides nationwide transportation service to major shippers, using late-model tractors and a uniform fleet of 53-foot aluminum plate dry vans. “
Several other research analysts have also recently weighed in on HTLD. Stifel Nicolaus reissued a hold rating and set a $23.00 price target (up previously from $19.00) on shares of Heartland Express in a research report on Monday, July 10th. UBS AG raised shares of Heartland Express from a sell rating to a neutral rating and lifted their target price for the stock from $20.00 to $22.00 in a research note on Monday, July 10th. BidaskClub raised shares of Heartland Express from a buy rating to a strong-buy rating in a research note on Saturday, July 1st. TheStreet raised shares of Heartland Express from a c+ rating to a b rating in a research note on Thursday, September 7th. Finally, Morgan Stanley reiterated an underweight rating on shares of Heartland Express in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $23.20.
Shares of Heartland Express (NASDAQ HTLD) opened at 25.12 on Monday. The stock has a market cap of $2.09 billion, a P/E ratio of 38.65 and a beta of 0.54. Heartland Express has a 52 week low of $17.06 and a 52 week high of $25.22. The stock has a 50 day moving average of $22.30 and a 200 day moving average of $20.82.
Heartland Express (NASDAQ:HTLD) last issued its earnings results on Wednesday, August 2nd. The transportation company reported $0.18 earnings per share (EPS) 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 company had revenue of $129.62 million during the quarter, compared to analysts’ expectations of $139.89 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. On average, analysts expect that Heartland Express will post $0.70 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 22nd were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, September 21st. Heartland Express’s payout ratio is 12.12%.
In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were 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 of the company’s stock, valued at $1,299,836.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 42.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. raised its stake in shares of Heartland Express by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,707 shares of the transportation company’s stock valued at $119,000 after acquiring an additional 58 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Heartland Express by 52.7% in the 1st quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock worth $171,000 after acquiring an additional 2,935 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Heartland Express by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock worth $177,000 after acquiring an additional 3,766 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Heartland Express by 1.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock worth $198,000 after acquiring an additional 160 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of Heartland Express by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,128 shares of the transportation company’s stock worth $203,000 after acquiring an additional 664 shares during the last quarter. Institutional investors and hedge funds own 60.91% of the company’s stock.
Heartland Express Company Profile
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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