Heartland Express, Inc. (NASDAQ:HTLD) had its price target lifted by equities research analysts at J P Morgan Chase & Co from $19.00 to $21.00 in a research report issued on Thursday. The firm currently has an “underweight” rating on the transportation company’s stock. J P Morgan Chase & Co’s price objective would indicate a potential downside of 11.36% from the stock’s previous close.
HTLD has been the subject of several other reports. BidaskClub raised shares of Heartland Express from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley reissued an “underweight” rating on shares of Heartland Express in a research note on Tuesday, July 11th. Stifel Nicolaus raised shares of Heartland Express from a “hold” rating to a “buy” rating and boosted their target price for the company from $22.00 to $28.00 in a research note on Friday, September 29th. TheStreet raised shares of Heartland Express from a “c+” rating to a “b” rating in a research note on Thursday, September 7th. Finally, Zacks Investment Research lowered shares of Heartland Express from a “buy” rating to a “sell” rating in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.67.
Shares of Heartland Express (NASDAQ HTLD) opened at 23.69 on Thursday. The stock’s 50 day moving average is $22.87 and its 200 day moving average is $21.01. The firm has a market cap of $1.97 billion, a P/E ratio of 36.45 and a beta of 0.55. Heartland Express has a 52 week low of $17.06 and a 52 week high of $25.22.
Heartland Express (NASDAQ:HTLD) last posted its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). Heartland Express had a net margin of 9.89% and a return on equity of 10.60%. The business had revenue of $129.62 million during the quarter, compared to analyst estimates of $139.89 million. During the same period last year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was down 19.4% on a year-over-year basis. On average, equities research analysts predict that Heartland Express will post $0.69 earnings per share for the current fiscal year.
In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.54, for a total transaction of $161,070.84. Following the sale, the executive vice president now directly owns 57,668 shares in the company, valued at approximately $1,299,836.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 42.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Heartland Express by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 10,103,973 shares of the transportation company’s stock worth $210,365,000 after buying an additional 620,252 shares in the last quarter. BlackRock Inc. raised its position in shares of Heartland Express by 152,605.4% during the 1st quarter. BlackRock Inc. now owns 5,752,412 shares of the transportation company’s stock worth $115,337,000 after buying an additional 5,748,645 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Heartland Express by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,182,897 shares of the transportation company’s stock worth $87,089,000 after buying an additional 41,514 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Heartland Express by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,493,159 shares of the transportation company’s stock worth $51,908,000 after buying an additional 96,332 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Heartland Express during the 2nd quarter worth about $41,847,000. Institutional investors own 60.91% of the company’s stock.
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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