Heartland Express (NASDAQ:HTLD) Trading Down 4.4% – Here’s Why

Heartland Express, Inc. (NASDAQ:HTLD) dropped 4.4% on Tuesday . The stock traded as low as $11.46 and last traded at $11.29. Approximately 96,333 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 346,168 shares. The stock had previously closed at $11.81.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HTLD shares. UBS Group lowered their price target on Heartland Express from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Heartland Express from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.75.

Heartland Express Price Performance

The company has a market cap of $906.68 million, a price-to-earnings ratio of -39.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50 day moving average price is $11.64 and its 200 day moving average price is $11.91.

Heartland Express (NASDAQ:HTLD) last posted its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Heartland Express had a negative net margin of 2.11% and a negative return on equity of 2.70%. On average, equities research analysts predict that Heartland Express, Inc. will post -0.38 earnings per share for the current fiscal year.

Heartland Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, December 27th. Heartland Express’s payout ratio is presently -27.59%.

Insider Activity

In other news, major shareholder Ann S. Gerdin Revocable Trust acquired 49,506 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $12.24 per share, for a total transaction of $605,953.44. Following the transaction, the insider now owns 898,584 shares of the company’s stock, valued at approximately $10,998,668.16. This represents a 5.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Gerdin bought 63,074 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $10.95 per share, with a total value of $690,660.30. Following the transaction, the chief executive officer now owns 1,259,792 shares of the company’s stock, valued at $13,794,722.40. The trade was a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 153,750 shares of company stock worth $1,786,918. 39.60% of the stock is owned by corporate insiders.

Institutional Trading of Heartland Express

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Heartland Express by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,362 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 1,913 shares during the last quarter. Inspire Investing LLC boosted its stake in Heartland Express by 5.9% in the fourth quarter. Inspire Investing LLC now owns 39,395 shares of the transportation company’s stock valued at $442,000 after acquiring an additional 2,196 shares during the last quarter. CWM LLC grew its holdings in Heartland Express by 85.7% during the 3rd quarter. CWM LLC now owns 5,069 shares of the transportation company’s stock worth $62,000 after acquiring an additional 2,340 shares during the period. Brandes Investment Partners LP raised its position in shares of Heartland Express by 33.3% during the 2nd quarter. Brandes Investment Partners LP now owns 19,245 shares of the transportation company’s stock valued at $237,000 after acquiring an additional 4,808 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Heartland Express by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 100,921 shares of the transportation company’s stock valued at $1,244,000 after purchasing an additional 5,804 shares during the period. 53.45% of the stock is currently owned by institutional investors and hedge funds.

Heartland Express Company Profile

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long-haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.