Heartland Express (NASDAQ:HTLD) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Heartland Express (NASDAQ:HTLD) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

HTLD has been the subject of a number of other research reports. UBS Group raised their target price on Heartland Express from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Barclays reduced their price target on Heartland Express from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Heartland Express in a report on Wednesday, June 24th. Wall Street Zen raised Heartland Express from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley boosted their target price on shares of Heartland Express from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $13.00.

Heartland Express Price Performance

Shares of NASDAQ HTLD opened at $12.23 on Tuesday. Heartland Express has a 1 year low of $6.99 and a 1 year high of $16.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The company’s 50-day moving average is $13.32 and its 200 day moving average is $12.84. The stock has a market capitalization of $945.75 million, a P/E ratio of -43.68 and a beta of 1.33.

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

Insider Buying and Selling at Heartland Express

In other news, Director David Millis sold 31,402 shares of Heartland Express stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the transaction, the director owned 28,387 shares of the company’s stock, valued at $444,824.29. The trade was a 52.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 41.60% of the stock is owned by insiders.

Institutional Trading of Heartland Express

Several institutional investors have recently bought and sold shares of HTLD. WINTON GROUP Ltd bought a new stake in Heartland Express during the 2nd quarter valued at about $289,000. Corient Private Wealth LP bought a new stake in shares of Heartland Express during the second quarter valued at approximately $165,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Heartland Express during the second quarter valued at approximately $976,000. California State Teachers Retirement System raised its holdings in Heartland Express by 1,408.0% in the 2nd quarter. California State Teachers Retirement System now owns 665,540 shares of the transportation company’s stock worth $10,130,000 after acquiring an additional 621,406 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its position in Heartland Express by 13.0% in the 2nd quarter. Susquehanna International Group LLP now owns 27,476 shares of the transportation company’s stock valued at $418,000 after acquiring an additional 3,165 shares in the last quarter. 53.45% of the stock is owned by hedge funds and other institutional investors.

Heartland Express Company Profile

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.