Heartland Express (NASDAQ:HTLD) Releases Quarterly Earnings Results

Heartland Express (NASDAQ:HTLD) released its quarterly earnings data on Thursday. The transportation company reported $0.14 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $184.13 million for 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%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the firm earned ($0.14) earnings per share.

Heartland Express Stock Performance

Shares of HTLD traded down $0.50 during mid-day trading on Friday, reaching $12.23. The company had a trading volume of 856,929 shares, compared to its average volume of 608,432. The stock has a market capitalization of $947.70 million, a P/E ratio of -43.68 and a beta of 1.31. Heartland Express has a 52-week low of $6.99 and a 52-week high of $16.64. The stock has a 50 day moving average of $14.92 and a two-hundred day moving average of $12.54. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.20.

Heartland Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Heartland Express’s payout ratio is -28.57%.

Insiders Place Their Bets

In other Heartland Express news, Director David Paul Millis sold 31,402 shares of the business’s stock in a transaction that occurred on 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 directly owned 28,387 shares of the company’s stock, valued at approximately $444,824.29. The trade was a 52.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Heartland Express

Several institutional investors have recently made changes to their positions in HTLD. Hotchkis & Wiley Capital Management LLC boosted its holdings in Heartland Express by 72.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,153,238 shares of the transportation company’s stock worth $9,664,000 after buying an additional 485,658 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Heartland Express by 150.6% in the third quarter. Ameriprise Financial Inc. now owns 799,491 shares of the transportation company’s stock valued at $6,700,000 after buying an additional 480,488 shares in the last quarter. Two Sigma Investments LP increased its holdings in Heartland Express by 91.0% in the third quarter. Two Sigma Investments LP now owns 812,248 shares of the transportation company’s stock valued at $6,807,000 after buying an additional 386,961 shares in the last quarter. HRT Financial LP purchased a new position in Heartland Express in the fourth quarter valued at $1,673,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Heartland Express by 18.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,090,216 shares of the transportation company’s stock worth $9,845,000 after acquiring an additional 166,236 shares during the period. 53.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HTLD has been the subject of a number of analyst reports. Robert W. Baird upped their target price on Heartland Express from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Morgan Stanley lifted their price target on Heartland Express from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Wall Street Zen raised Heartland Express from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Heartland Express in a research note on Wednesday, June 24th. Finally, Barclays raised their price objective on Heartland Express from $12.00 to $14.00 and gave the company an “underweight” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.20.

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.