Heartland Express (NASDAQ:HTLD) Stock Price Down 5% – Here’s Why

Heartland Express, Inc. (NASDAQ:HTLD) dropped 5% on Wednesday . The company traded as low as $11.90 and last traded at $11.90. Approximately 115,806 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 585,416 shares. The stock had previously closed at $12.52.

Analysts Set New Price Targets

HTLD has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Heartland Express in a research note on Wednesday, June 24th. UBS Group upped their price objective on Heartland Express from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Heartland Express from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. lifted their target price on Heartland Express from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, July 31st. Finally, Morgan Stanley boosted their target price on Heartland Express from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.00.

Heartland Express Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $917.52 million, a price-to-earnings ratio of -42.37 and a beta of 1.33. The firm’s 50-day moving average price is $13.12 and its 200 day moving average price is $12.88.

Heartland Express (NASDAQ:HTLD) last announced its quarterly earnings data on Wednesday, August 5th. The transportation company reported $0.14 earnings per share (EPS) for the quarter. Heartland Express had a negative net margin of 2.98% and a negative return on equity of 0.92%. The firm had revenue of $152.38 million for the quarter, compared to analysts’ expectations of $185.08 million. During the same period last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, sell-side analysts anticipate that Heartland Express, Inc. will post 0.19 EPS for the current year.

Heartland Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, September 25th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, September 25th. Heartland Express’s dividend payout ratio (DPR) is currently -28.57%.

Hedge Funds Weigh In On Heartland Express

Hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in shares of Heartland Express in the 2nd quarter valued at $289,000. Corient Private Wealth LP bought a new position in shares of Heartland Express during the 2nd quarter valued at about $165,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Heartland Express in the 2nd quarter valued at approximately $976,000. Susquehanna International Group LLP lifted its stake in Heartland Express by 13.0% in the second quarter. Susquehanna International Group LLP now owns 27,476 shares of the transportation company’s stock valued at $418,000 after buying an additional 3,165 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Heartland Express during the second quarter worth $5,425,000. Institutional investors and hedge funds own 53.45% of the company’s stock.

Heartland Express Company Profile

Heartland Express, Inc is a transportation and logistics company that provides asset-based truckload services in North America. The company primarily operates a fleet of dry van tractors and trailers, transporting general freight that does not require temperature control.

Its services include irregular-route and regional truckload transportation, dedicated freight, expedited shipping, and logistics support. Heartland Express serves customers across the United States and also provides cross-border transportation involving Canada and Mexico.

Founded in 1978, the company is headquartered in North Liberty, Iowa.