Heartland Express (NASDAQ:HTLD) Sets New 52-Week High – Here’s Why

Heartland Express, Inc. (NASDAQ:HTLD) shares hit a new 52-week high during trading on Friday . The stock traded as high as $16.09 and last traded at $15.8950, with a volume of 147621 shares traded. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HTLD. Weiss Ratings restated a “sell (d-)” rating on shares of Heartland Express in a report on Friday, March 27th. Morgan Stanley set a $12.00 target price on shares of Heartland Express in a report on Friday, May 8th. Barclays boosted their target price on shares of Heartland Express from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Heartland Express from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Robert W. Baird boosted their target price on shares of Heartland Express from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.20.

Heartland Express Stock Performance

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -28.07 and a beta of 1.31. The stock’s fifty day moving average is $12.58 and its two-hundred day moving average is $10.82. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.20.

Heartland Express (NASDAQ:HTLD) last released its quarterly earnings data on Friday, April 24th. The transportation company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. Heartland Express had a negative net margin of 5.69% and a negative return on equity of 3.70%. The firm had revenue of $153.81 million for the quarter, compared to the consensus estimate of $177.30 million. During the same period in the previous year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was down 19.7% on a year-over-year basis. On average, analysts predict that Heartland Express, Inc. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On Heartland Express

Several institutional investors and hedge funds have recently modified their holdings of HTLD. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Heartland Express by 72.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,153,238 shares of the transportation company’s stock valued at $9,664,000 after purchasing an additional 485,658 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Heartland Express by 150.6% in the third quarter. Ameriprise Financial Inc. now owns 799,491 shares of the transportation company’s stock valued at $6,700,000 after purchasing an additional 480,488 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Heartland Express by 91.0% in the third quarter. Two Sigma Investments LP now owns 812,248 shares of the transportation company’s stock valued at $6,807,000 after purchasing an additional 386,961 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new position in shares of Heartland Express in the fourth quarter valued at about $2,619,000. Finally, UBS Group AG grew its stake in shares of Heartland Express by 90.6% in the fourth quarter. UBS Group AG now owns 529,514 shares of the transportation company’s stock valued at $4,782,000 after acquiring an additional 251,670 shares in the last quarter. 53.45% of the stock is currently owned by institutional investors and hedge funds.

Heartland Express Company Profile

Heartland Express, Inc (NASDAQ: HTLD) is a publicly traded truckload carrier headquartered in North Liberty, Iowa. The company specializes in full truckload transportation, offering dry-van services that connect shippers with customers across the continental United States. Its primary focus is on over-the-road freight movements, serving industries such as manufacturing, retail, and consumer goods.

Founded in 1978 as Heartland Motor Freight, the company has grown from a regional carrier into one of the larger U.S.