Heartland Express (NASDAQ:HTLD) Posts Earnings Results, Beats Estimates By $0.01 EPS

Heartland Express (NASDAQ:HTLD) issued its earnings results on Tuesday. The transportation company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01, Zacks reports. Heartland Express had a negative return on equity of 4.37% and a negative net margin of 4.01%.

Heartland Express Stock Performance

HTLD stock traded up $0.45 during trading on Tuesday, hitting $11.22. 118,767 shares of the company’s stock traded hands, compared to its average volume of 506,495. The stock has a market capitalization of $869.30 million, a price-to-earnings ratio of -24.95 and a beta of 1.15. Heartland Express has a 52 week low of $6.99 and a 52 week high of $11.82. The stock has a fifty day moving average price of $9.54 and a two-hundred day moving average price of $8.65. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.23.

Heartland Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Friday, December 26th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, December 26th. This represents a $0.08 annualized dividend and a yield of 0.7%. Heartland Express’s dividend payout ratio (DPR) is -17.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP grew its position in Heartland Express by 53.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 151,102 shares of the transportation company’s stock worth $1,266,000 after purchasing an additional 52,494 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Heartland Express by 43.8% during the 3rd quarter. Verition Fund Management LLC now owns 104,338 shares of the transportation company’s stock worth $874,000 after buying an additional 31,767 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Heartland Express by 47.6% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 39,391 shares of the transportation company’s stock worth $330,000 after acquiring an additional 12,707 shares during the period. Millennium Management LLC boosted its holdings in shares of Heartland Express by 1,241.6% in the third quarter. Millennium Management LLC now owns 143,260 shares of the transportation company’s stock valued at $1,201,000 after acquiring an additional 132,582 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Heartland Express during the 3rd quarter valued at $477,000. 53.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Heartland Express from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heartland Express in a research note on Monday, December 22nd. Wall Street Zen lowered shares of Heartland Express from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird set a $12.00 target price on shares of Heartland Express and gave the stock an “outperform” rating in a research report on Monday, January 5th. Finally, Barclays upped their price target on Heartland Express from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $9.75.

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.