Heartland Express (NASDAQ:HTLD) Sets New 1-Year High on Earnings Beat

Heartland Express, Inc. (NASDAQ:HTLD) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $11.86 and last traded at $11.78, with a volume of 1132320 shares changing hands. The stock had previously closed at $11.08.

The transportation company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $179.36 million during the quarter, compared to analyst estimates of $194.54 million. Heartland Express had a negative net margin of 4.01% and a negative return on equity of 4.37%. The business’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS.

Heartland Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Friday, December 26th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.08 annualized dividend and a yield of 0.7%. Heartland Express’s dividend payout ratio is presently -17.78%.

Analyst Ratings Changes

Several research analysts recently weighed in on HTLD shares. JPMorgan Chase & Co. reduced their price objective on shares of Heartland Express from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 8th. Barclays lifted their price target on shares of Heartland Express from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, January 15th. Wall Street Zen cut shares of Heartland Express from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird set a $12.00 target price on Heartland Express and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Morgan Stanley set a $9.00 target price on Heartland Express in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $9.75.

Hedge Funds Weigh In On Heartland Express

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Heartland Express by 185.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,673 shares of the transportation company’s stock valued at $40,000 after buying an additional 3,036 shares during the last quarter. Autumn Glory Partners LLC bought a new stake in Heartland Express during the third quarter worth $89,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Heartland Express in the third quarter valued at $89,000. BNP Paribas Financial Markets lifted its stake in Heartland Express by 51.3% in the third quarter. BNP Paribas Financial Markets now owns 11,549 shares of the transportation company’s stock valued at $97,000 after acquiring an additional 3,918 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Heartland Express during the 3rd quarter worth about $101,000. Institutional investors own 53.45% of the company’s stock.

Heartland Express Stock Performance

The company has a market capitalization of $912.36 million, a P/E ratio of -26.18 and a beta of 1.15. The stock’s fifty day moving average price is $9.61 and its 200-day moving average price is $8.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.14 and a current ratio of 1.14.

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.