Heartland Express, Inc. (NASDAQ:HTLD) Stock Now Rated “Reduce” by Sell-Side Brokerages

Shares of Heartland Express, Inc. (NASDAQ:HTLD) have earned a consensus rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.20.

Several equities analysts have recently weighed in on HTLD shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Heartland Express in a research report on Monday, September 21st. Morgan Stanley raised their price target on Heartland Express from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on shares of Heartland Express from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. Barclays dropped their price objective on shares of Heartland Express from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, August 13th. Finally, Robert W. Baird cut shares of Heartland Express from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $12.00 in a research report on Tuesday, October 20th.

Hedge Funds Weigh In On Heartland Express

Several hedge funds have recently added to or reduced their stakes in HTLD. Public Employees Retirement System of Ohio purchased a new position in shares of Heartland Express during the second quarter valued at approximately $34,000. Fortitude Family Office LLC bought a new position in shares of Heartland Express during the third quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in shares of Heartland Express by 18.1% during the second quarter. GAMMA Investing LLC now owns 6,525 shares of the transportation company’s stock valued at $99,000 after buying an additional 999 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Heartland Express by 3,737.9% in the first quarter. Fifth Third Bancorp now owns 10,746 shares of the transportation company’s stock worth $112,000 after buying an additional 10,466 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of Heartland Express in the second quarter worth approximately $165,000. 53.45% of the stock is currently owned by institutional investors.

Heartland Express Stock Down 1.6%

Shares of NASDAQ HTLD opened at $10.02 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Heartland Express has a 12-month low of $6.99 and a 12-month high of $16.64. The firm’s 50-day moving average price is $11.71 and its 200-day moving average price is $12.28. The stock has a market capitalization of $774.85 million, a price-to-earnings ratio of -62.62 and a beta of 1.35.

Heartland Express (NASDAQ:HTLD) last issued its quarterly earnings data on Tuesday, October 20th. The transportation company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $179.50 million for the quarter, compared to analysts’ expectations of $181.38 million. Heartland Express had a negative net margin of 1.77% and a positive return on equity of 0.30%. On average, equities research analysts anticipate that Heartland Express will post 0.13 EPS for the current fiscal year.

Heartland Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Friday, September 25th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, September 25th. Heartland Express’s dividend payout ratio (DPR) is -50.00%.

Heartland Express Company Profile

Heartland Express, Inc is a North American truckload carrier that provides freight transportation services primarily through an asset-based fleet of tractors and dry van trailers. The company transports general commodities, including consumer and industrial goods, over irregular routes and short- to medium-length hauls.

The company serves customers throughout the contiguous United States and also provides cross-border transportation services involving Mexico and Canada. Its offerings include standard truckload transportation, dedicated capacity, expedited and regional services, and logistics support designed to help shippers manage freight movements and supply chains.

Heartland Express was founded in 1978 and is headquartered in North Liberty, Iowa.