Heartland Express (NASDAQ:HTLD) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Heartland Express (NASDAQ:HTLD) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Barclays reduced their target price on shares of Heartland Express from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Heartland Express in a research note on Wednesday, June 24th. Morgan Stanley lifted their target price on shares of Heartland Express from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. UBS Group boosted their price target on Heartland Express from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on Heartland Express from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $13.00.

Heartland Express Price Performance

Shares of NASDAQ:HTLD opened at $11.87 on Friday. The business’s fifty day moving average price is $12.94 and its two-hundred day moving average price is $12.88. The stock has a market cap of $917.91 million, a PE ratio of -42.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. Heartland Express has a one year low of $6.99 and a one year high of $16.64.

Heartland Express (NASDAQ:HTLD) last issued its quarterly earnings data on Wednesday, August 5th. The transportation company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $152.38 million for the quarter, compared to the consensus estimate of $185.08 million. Heartland Express had a negative return on equity of 0.92% and a negative net margin of 2.98%.The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) earnings per share. On average, analysts forecast that Heartland Express will post 0.19 EPS for the current fiscal year.

Heartland Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, September 25th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 25th. Heartland Express’s dividend payout ratio (DPR) is -28.57%.

Institutional Investors Weigh In On Heartland Express

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Heartland Express in the 2nd quarter worth about $34,000. GAMMA Investing LLC lifted its stake in shares of Heartland Express by 18.1% in the 2nd quarter. GAMMA Investing LLC now owns 6,525 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 999 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Heartland Express by 3,737.9% during the 1st quarter. Fifth Third Bancorp now owns 10,746 shares of the transportation company’s stock worth $112,000 after purchasing an additional 10,466 shares during the period. Corient Private Wealth LP purchased a new stake in shares of Heartland Express during the 2nd quarter worth about $165,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Heartland Express during the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 53.45% of the company’s stock.

About Heartland Express

Heartland Express, Inc is a transportation and logistics company that provides asset-based truckload services in North America. The company primarily operates a fleet of dry van tractors and trailers, transporting general freight that does not require temperature control.

Its services include irregular-route and regional truckload transportation, dedicated freight, expedited shipping, and logistics support. Heartland Express serves customers across the United States and also provides cross-border transportation involving Canada and Mexico.

Founded in 1978, the company is headquartered in North Liberty, Iowa.