Heartland Express, Inc. (HTLD) Receives “Hold” Rating from Robert W. Baird
Heartland Express, Inc. (NASDAQ:HTLD)‘s stock had its “hold” rating restated by stock analysts at Robert W. Baird in a research report issued on Sunday. They presently have a $24.00 price objective on the transportation company’s stock. Robert W. Baird’s price target would suggest a potential upside of 6.43% from the stock’s current price.
Other research analysts also recently issued reports about the company. TheStreet raised Heartland Express from a “c+” rating to a “b” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Heartland Express from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 21st. BidaskClub downgraded Heartland Express from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price objective (up from $19.00) on shares of Heartland Express in a research note on Monday, July 10th. Finally, UBS AG raised Heartland Express from a “sell” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $22.00 in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.20.
Shares of Heartland Express (NASDAQ:HTLD) opened at 22.55 on Friday. The firm’s 50-day moving average is $21.53 and its 200-day moving average is $20.58. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 34.69 and a beta of 0.53. Heartland Express has a one year low of $17.06 and a one year high of $22.98.
Heartland Express (NASDAQ:HTLD) last announced its earnings results on Wednesday, August 2nd. The transportation company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Heartland Express had a return on equity of 10.60% and a net margin of 9.89%. The business had revenue of $129.62 million for the quarter, compared to analyst estimates of $139.89 million. During the same period in the previous year, the company earned $0.20 earnings per share. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. Equities research analysts forecast that Heartland Express will post $0.70 EPS for the current year.
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In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $22.54, for a total value of $161,070.84. Following the completion of the sale, the executive vice president now directly owns 57,668 shares in the company, valued at approximately $1,299,836.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 42.10% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Pinebridge Investments L.P. grew its holdings in Heartland Express by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,707 shares of the transportation company’s stock valued at $119,000 after buying an additional 58 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Heartland Express by 52.7% in the 1st quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock valued at $171,000 after buying an additional 2,935 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Heartland Express by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock valued at $177,000 after buying an additional 3,766 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Heartland Express by 1.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock valued at $198,000 after buying an additional 160 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in Heartland Express in the 2nd quarter valued at $210,000. Institutional investors own 60.91% of the company’s stock.
About Heartland Express
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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