Short Interest in Heartland Express, Inc. (NASDAQ:HTLD) Declines By 20.2%

Heartland Express, Inc. (NASDAQ:HTLD) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,741,727 shares, a decrease of 20.2% from the February 26th total of 2,183,093 shares. Based on an average daily volume of 459,564 shares, the days-to-cover ratio is currently 3.8 days. Currently, 3.8% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have issued reports on HTLD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Heartland Express in a report on Friday. Wall Street Zen lowered Heartland Express from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Robert W. Baird set a $12.00 price target on Heartland Express and gave the stock an “outperform” rating in a report on Monday, January 5th. UBS Group raised their price objective on Heartland Express from $8.50 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Barclays lifted their price objective on Heartland Express from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $10.20.

Institutional Investors Weigh In On Heartland Express

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Heartland Express by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,857,387 shares of the transportation company’s stock valued at $32,325,000 after buying an additional 17,962 shares during the last quarter. Gate City Capital Management LLC grew its stake in Heartland Express by 8.3% in the 4th quarter. Gate City Capital Management LLC now owns 2,192,807 shares of the transportation company’s stock worth $19,801,000 after acquiring an additional 167,962 shares during the period. State Street Corp grew its stake in Heartland Express by 1.8% in the 4th quarter. State Street Corp now owns 1,961,907 shares of the transportation company’s stock worth $17,755,000 after acquiring an additional 35,355 shares during the period. American Century Companies Inc. raised its holdings in Heartland Express by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 1,408,307 shares of the transportation company’s stock valued at $12,168,000 after acquiring an additional 166,717 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Heartland Express by 11.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,432 shares of the transportation company’s stock valued at $10,727,000 after acquiring an additional 128,702 shares during the last quarter. 53.45% of the stock is owned by institutional investors and hedge funds.

Heartland Express Price Performance

NASDAQ:HTLD traded up $0.26 during trading hours on Wednesday, reaching $10.66. 54,579 shares of the company traded hands, compared to its average volume of 535,171. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $10.64 and its 200-day moving average is $9.34. The stock has a market cap of $825.59 million, a P/E ratio of -15.67 and a beta of 1.13. Heartland Express has a 1-year low of $6.99 and a 1-year high of $12.13.

Heartland Express (NASDAQ:HTLD) last released its quarterly earnings results on Monday, February 9th. The transportation company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $157.68 million during the quarter, compared to analysts’ expectations of $194.54 million. Heartland Express had a negative return on equity of 4.79% and a negative net margin of 6.51%.The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. Equities research analysts expect that Heartland Express will post 0.17 earnings per share for the current fiscal year.

Heartland Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Tuesday, March 24th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.08 annualized dividend and a yield of 0.8%. Heartland Express’s payout ratio is presently -11.76%.

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.