Heartland Express (NASDAQ:HTLD – Get Free Report) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $12.00 price objective on the transportation company’s stock, down from their prior price objective of $16.00. Robert W. Baird’s price objective would indicate a potential upside of 13.96% from the company’s previous close.
Several other research firms also recently weighed in on HTLD. Zacks Research downgraded Heartland Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Morgan Stanley boosted their price objective 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. Wall Street Zen lowered Heartland Express from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Heartland Express in a report on Monday, September 21st. Finally, JPMorgan Chase & Co. upped their price objective on Heartland Express from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Heartland Express has an average rating of “Reduce” and a consensus target price of $12.40.
Check Out Our Latest Report on Heartland Express
Heartland Express Stock Performance
Shares of Heartland Express stock opened at $10.53 on Tuesday. Heartland Express has a fifty-two week low of $6.99 and a fifty-two week high of $16.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $814.28 million, a P/E ratio of -37.61 and a beta of 1.35. The company’s 50 day moving average price is $11.93 and its two-hundred day moving average price is $13.08.
Heartland Express (NASDAQ:HTLD – Get Free Report) last posted its earnings results on Wednesday, August 5th. The transportation company reported $0.14 earnings per share for the quarter. The firm had revenue of $152.38 million for the quarter, compared to analysts’ expectations of $185.08 million. Heartland Express had a negative net margin of 2.98% and a negative return on equity of 0.92%. The company’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, equities analysts forecast that Heartland Express will post 0.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Heartland Express
A number of hedge funds have recently modified their holdings of HTLD. BlackRock Inc. bought a new stake in shares of Heartland Express in the second quarter worth $104,523,000. Wallace Capital Management Inc. acquired a new stake in Heartland Express in the second quarter valued at $14,687,000. Empowered Funds LLC acquired a new stake in Heartland Express in the second quarter valued at $5,425,000. Punch & Associates Investment Management Inc. bought a new position in Heartland Express during the 2nd quarter worth $5,049,000. Finally, Bank of America Corp DE bought a new position in Heartland Express during the 2nd quarter worth $4,523,000. Institutional investors and hedge funds own 53.45% of the company’s stock.
About Heartland Express
Heartland Express, Inc (NASDAQ: HTLD) is a transportation and logistics company that provides truckload freight services across North America. Its operations primarily involve the over-the-road movement of general, non-refrigerated freight using dry van equipment.
The company offers irregular-route and dedicated transportation services to shippers, along with logistics and related freight solutions. Heartland Express serves customers throughout the contiguous United States and, through its broader network, supports cross-border freight movements involving Canada and Mexico.
Founded in 1978 by Russell Gerdin, the company is headquartered in North Liberty, Iowa.
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