Heartland Express Inc. (NASDAQ:HTLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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 analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Heartland Express from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. CL King reissued a “neutral” rating on shares of Heartland Express in a research note on Thursday, August 25th. BB&T Corp. lowered Heartland Express from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Wedbush reissued a “neutral” rating and set a $12.00 price objective (down previously from $17.00) on shares of Heartland Express in a research note on Thursday, August 25th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Heartland Express in a research note on Thursday, August 25th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.00.
Heartland Express (NASDAQ:HTLD) opened at 18.51 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 25.05 and a beta of 0.25. The stock’s 50 day moving average price is $19.00 and its 200 day moving average price is $18.31. Heartland Express has a 52 week low of $15.36 and a 52 week high of $21.95.
Heartland Express (NASDAQ:HTLD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate 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%. The firm’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts forecast that Heartland Express will post $0.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 23rd were issued 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 yield of 0.43%. Heartland Express’s dividend payout ratio (DPR) is 10.81%.
In other Heartland Express 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 sale, the executive vice president now owns 64,814 shares in the company, valued at approximately $1,286,557.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 45.30% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Heartland Express by 89.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,579 shares of the company’s stock valued at $340,000 after buying an additional 9,253 shares during the period. Barclays PLC acquired a new position in Heartland Express during the first quarter worth approximately $354,000. Magnetar Financial LLC acquired a new position in Heartland Express during the first quarter worth approximately $230,000. Envestnet Asset Management Inc. increased its position in Heartland Express by 19.1% in the first quarter. Envestnet Asset Management Inc. now owns 40,180 shares of the company’s stock worth $745,000 after buying an additional 6,445 shares during the last quarter. Finally, Invictus RG acquired a new position in Heartland Express during the first quarter worth approximately $116,000. 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.
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