Zacks Investment Research downgraded shares of Heartland Express Inc. (NASDAQ:HTLD) from a hold rating to a sell rating in a research note published on Tuesday 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. “
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their target price on Heartland Express from $16.00 to $18.00 and gave the stock an underweight rating in a research report on Friday, July 29th. CL King reaffirmed a neutral rating on shares of Heartland Express in a research report on Thursday, August 25th. BB&T Corp. lowered Heartland Express from a buy rating to a hold rating in a research report on Wednesday, June 22nd. Wedbush reaffirmed a neutral rating and set a $12.00 target price (down from $17.00) on shares of Heartland Express in a research report on Thursday, August 25th. Finally, Deutsche Bank AG reaffirmed a hold rating on shares of Heartland Express in a research report on Thursday, August 25th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $17.00.
Heartland Express (NASDAQ:HTLD) opened at 18.22 on Tuesday. The stock has a 50 day moving average price of $18.96 and a 200 day moving average price of $18.31. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 24.65 and a beta of 0.25. Heartland Express has a 1-year low of $15.36 and a 1-year high of $21.95.
Heartland Express (NASDAQ:HTLD) last announced its earnings results on Thursday, July 28th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $160.80 million for the quarter, compared to analyst estimates of $167.94 million. Heartland Express had a return on equity of 13.14% and a net margin of 9.24%. Heartland Express’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Analysts predict that Heartland Express will post $0.71 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 23rd were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $0.08 annualized dividend and a dividend yield of 0.44%. Heartland Express’s dividend payout ratio (DPR) is presently 10.81%.
In other news, EVP John P. Cosaert sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $19.85, for a total transaction of $79,400.00. Following the completion of the sale, the executive vice president now owns 64,814 shares in the company, valued at approximately $1,286,557.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 45.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in Heartland Express by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 6,409 shares of the company’s stock valued at $111,000 after buying an additional 109 shares during the period. Profund Advisors LLC increased its stake in Heartland Express by 1.8% in the second quarter. Profund Advisors LLC now owns 13,194 shares of the company’s stock valued at $229,000 after buying an additional 232 shares during the period. PineBridge Investments L.P. increased its stake in Heartland Express by 5.5% in the second quarter. PineBridge Investments L.P. now owns 7,494 shares of the company’s stock valued at $131,000 after buying an additional 390 shares during the period. Arizona State Retirement System increased its stake in Heartland Express by 1.3% in the second quarter. Arizona State Retirement System now owns 30,667 shares of the company’s stock valued at $533,000 after buying an additional 400 shares during the period. Finally, Ngam Advisors L.P. increased its stake in Heartland Express by 6.7% in the second quarter. Ngam Advisors L.P. now owns 15,972 shares of the company’s stock valued at $278,000 after buying an additional 1,004 shares during the period. Institutional investors own 61.06% of the company’s stock.
Heartland Express Company Profile
Heartland Express, Inc (Heartland) is a holding company. The Company owns all of the stock of Heartland Express Inc of Iowa, Gordon Trucking, Inc, Heartland Express Services, Inc, Heartland Express Maintenance Services, Inc and A & M Express, Inc It provides transportation services to shippers spanning from Washington to Florida and New England to California, as well as parts of Canada.