Heartland Express (NASDAQ:HTLD) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Heartland Express, Inc. (NASDAQ:HTLD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.43 and traded as high as $9.19. Heartland Express shares last traded at $9.03, with a volume of 372,234 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HTLD shares. JPMorgan Chase & Co. dropped their price objective on shares of Heartland Express from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday, October 8th. Robert W. Baird cut their price objective on Heartland Express from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Zacks Research upgraded Heartland Express from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heartland Express in a report on Monday, December 22nd. Finally, Morgan Stanley cut their price target on shares of Heartland Express from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $8.25.

Heartland Express Trading Down 1.7%

The firm has a market cap of $699.36 million, a PE ratio of -20.07 and a beta of 1.14. The company has a 50-day simple moving average of $8.35 and a 200 day simple moving average of $8.43. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23.

Heartland Express (NASDAQ:HTLD) last posted its earnings results on Thursday, November 6th. The transportation company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Heartland Express had a negative net margin of 4.01% and a negative return on equity of 4.37%. The firm had revenue of $172.43 million during the quarter, compared to analyst estimates of $209.68 million. As a group, sell-side analysts forecast that Heartland Express, Inc. will post 0.17 earnings per share for the current fiscal year.

Heartland Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Friday, December 26th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.08 dividend on an annualized basis and a yield of 0.9%. Heartland Express’s dividend payout ratio is presently -17.78%.

Hedge Funds Weigh In On Heartland Express

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Heartland Express by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,857,387 shares of the transportation company’s stock valued at $32,325,000 after purchasing an additional 17,962 shares during the period. Gate City Capital Management LLC lifted its stake in Heartland Express by 167.6% in the 2nd quarter. Gate City Capital Management LLC now owns 1,611,581 shares of the transportation company’s stock valued at $13,924,000 after buying an additional 1,009,388 shares in the last quarter. American Century Companies Inc. boosted its holdings in Heartland Express by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 1,408,307 shares of the transportation company’s stock worth $12,168,000 after buying an additional 166,717 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Heartland Express by 11.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,432 shares of the transportation company’s stock worth $10,727,000 after buying an additional 128,702 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Heartland Express by 72.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,153,238 shares of the transportation company’s stock worth $9,664,000 after buying an additional 485,658 shares in the last quarter. 53.45% of the stock is currently owned by institutional investors and hedge funds.

About Heartland Express

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.