Zacks Investment Research downgraded shares of Heartland Express, Inc. (NASDAQ:HTLD) from a hold rating to a sell rating in a research report report published on Wednesday morning.
According to Zacks, “Heartland Express, Inc. is a leader in transportation and logistics. Heartland Express provides collaborative truckload transportation service that enables companies to deliver exceptional service across their transportation network to improve customer satisfaction. The company provides truckload transportation service to virtually all markets east of the Rocky Mountains at any length of haul. Heartland Express transports a variety of goods, including automotive parts, consumer goods, paper and plastic products, retail goods, and packaged foodstuffs. The company serves the truckload transportation needs of the top shippers in America. Heartland operates in the United States and is headquartered in North Liberty, IA. “
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Heartland Express from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. UBS AG upgraded Heartland Express from a sell rating to a neutral rating and increased their price target for the stock from $20.00 to $22.00 in a research report on Monday, July 10th. TheStreet downgraded Heartland Express from a b rating to a c rating in a research report on Friday, October 27th. Barclays PLC lowered their price target on Heartland Express from $21.00 to $20.00 and set an underweight rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a hold rating and set a $23.00 price target (up previously from $19.00) on shares of Heartland Express in a research report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $24.17.
Shares of Heartland Express (HTLD) opened at $21.17 on Wednesday. The company has a market capitalization of $1,763.52, a P/E ratio of 35.28, a PEG ratio of 2.44 and a beta of 0.54.
Heartland Express (NASDAQ:HTLD) last issued its quarterly earnings results on Friday, October 27th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). The business had revenue of $182.10 million for the quarter, compared to analysts’ expectations of $205.81 million. Heartland Express had a return on equity of 9.50% and a net margin of 8.54%. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. equities analysts expect that Heartland Express will post 0.58 earnings per share for the current year.
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In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $22.54, for a total transaction of $161,070.84. Following the completion of the transaction, the executive vice president now owns 57,668 shares of the company’s stock, valued at $1,299,836.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.10% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. raised its holdings in shares of Heartland Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,707 shares of the transportation company’s stock valued at $119,000 after acquiring an additional 58 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Heartland Express by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock valued at $198,000 after acquiring an additional 160 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Heartland Express by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 23,105 shares of the transportation company’s stock valued at $481,000 after acquiring an additional 187 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Heartland Express by 0.4% during the second quarter. Aperio Group LLC now owns 50,728 shares of the transportation company’s stock valued at $1,056,000 after acquiring an additional 206 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of Heartland Express by 0.8% during the second quarter. Texas Permanent School Fund now owns 31,623 shares of the transportation company’s stock valued at $658,000 after acquiring an additional 265 shares during the last quarter. 60.13% of the stock is owned by institutional investors and hedge funds.
Heartland Express Company Profile
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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