Heartland Express’ (HTLD) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird reissued their hold rating on shares of Heartland Express, Inc. (NASDAQ:HTLD) in a research note issued to investors on Friday morning. The firm currently has a $26.00 target price on the transportation company’s stock.
HTLD has been the topic of several other reports. BidaskClub raised shares of Heartland Express from a buy rating to a strong-buy rating in a research note on Saturday, July 1st. Morgan Stanley reaffirmed an underweight rating on shares of Heartland Express in a research note on Tuesday, July 11th. Stifel Nicolaus raised shares of Heartland Express from a hold rating to a buy rating and lifted their target price for the stock from $22.00 to $28.00 in a research note on Friday, September 29th. TheStreet raised shares of Heartland Express from a c+ rating to a b rating in a research note on Thursday, September 7th. Finally, Zacks Investment Research downgraded shares of Heartland Express from a buy rating to a sell rating in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Heartland Express currently has an average rating of Hold and a consensus price target of $23.60.
Shares of Heartland Express (HTLD) opened at 24.01 on Friday. The stock has a market capitalization of $2.00 billion, a PE ratio of 36.94 and a beta of 0.54. Heartland Express has a 12 month low of $17.06 and a 12 month high of $25.22. The stock’s 50 day moving average is $22.63 and its 200 day moving average is $20.92.
Heartland Express (NASDAQ:HTLD) last posted its quarterly 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). The business had revenue of $129.62 million during the quarter, compared to analysts’ expectations of $139.89 million. Heartland Express had a return on equity of 10.60% and a net margin of 9.89%. The business’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. Analysts anticipate that Heartland Express will post $0.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 22nd were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Thursday, September 21st. Heartland Express’s dividend payout ratio (DPR) is presently 12.12%.
In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of Heartland Express stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.54, for a total transaction of $161,070.84. Following the transaction, the executive vice president now directly owns 57,668 shares of the company’s stock, valued at $1,299,836.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.10% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of HTLD. Pinebridge Investments L.P. raised its stake in Heartland Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,707 shares of the transportation company’s stock worth $119,000 after purchasing an additional 58 shares during the period. Victory Capital Management Inc. increased its position in shares of Heartland Express by 52.7% during the first quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 2,935 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Heartland Express by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 3,766 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Heartland Express by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock valued at $198,000 after acquiring an additional 160 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Heartland Express by 7.0% during the first quarter. Mason Street Advisors LLC now owns 10,128 shares of the transportation company’s stock valued at $203,000 after acquiring an additional 664 shares during the last quarter. 60.91% of the stock is currently owned by institutional investors.
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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