Heartland Express (NASDAQ:HTLD) Trading Up 9.7% on Analyst Upgrade

Shares of Heartland Express, Inc. (NASDAQ:HTLD) were up 9.7% during mid-day trading on Monday after Baird R W upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $10.01 and last traded at $10.0350. Approximately 220,095 shares traded hands during trading, a decline of 50% from the average daily volume of 436,836 shares. The stock had previously closed at $9.15.

A number of other brokerages have also recently commented on HTLD. Weiss Ratings reissued a “sell (e+)” rating on shares of Heartland Express in a research note on Monday, December 22nd. JPMorgan Chase & Co. cut their target price on Heartland Express from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday, October 8th. Zacks Research raised shares of Heartland Express from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Morgan Stanley lowered their price objective on shares of Heartland Express from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Finally, Robert W. Baird set a $12.00 price objective on shares of Heartland Express and gave the company an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.25.

Hedge Funds Weigh In On Heartland Express

Several hedge funds have recently modified their holdings of HTLD. Tower Research Capital LLC TRC grew its holdings in shares of Heartland Express by 185.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,673 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 3,036 shares in the last quarter. Autumn Glory Partners LLC purchased a new position in Heartland Express in the third quarter worth $89,000. Wealth Enhancement Advisory Services LLC bought a new position in Heartland Express in the 3rd quarter valued at $89,000. BNP Paribas Financial Markets grew its stake in Heartland Express by 51.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,549 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 3,918 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Heartland Express during the 3rd quarter valued at $101,000. Institutional investors own 53.45% of the company’s stock.

Heartland Express Stock Down 1.5%

The stock has a 50 day moving average price of $8.46 and a 200 day moving average price of $8.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $793.09 million, a P/E ratio of -22.76 and a beta of 1.13.

Heartland Express (NASDAQ:HTLD) last posted its quarterly earnings data on Thursday, November 6th. The transportation company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $172.43 million during the quarter, compared to the consensus estimate of $209.68 million. Heartland Express had a negative net margin of 4.01% and a negative return on equity of 4.37%. Equities research analysts forecast that Heartland Express, Inc. will post 0.17 earnings per share for the current fiscal year.

Heartland Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Friday, December 26th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 26th. Heartland Express’s payout ratio is -17.78%.

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.