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

Key Points

• Zacks Research downgraded Heartland Express to “Hold” from “Strong Buy,” while the broader analyst consensus is “Reduce” with an average price target of $13.00.
• Heartland Express reported quarterly EPS of $0.14, but revenue of $152.38 million fell short of the $185.08 million estimate and declined 12.5% year over year.
• The stock opened at $12.23, below its 50-day moving average of $13.32, while director David Millis sold 31,402 shares; insiders own 41.6% of the company and institutions hold 53.45%.

Heartland Express (NASDAQ:HTLD - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley lifted their price objective 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. JPMorgan Chase & Co. upped their target price on Heartland Express from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Friday, July 31st. Wall Street Zen raised Heartland Express from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. UBS Group lifted their price target on shares of Heartland Express from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Heartland Express in a research report on Wednesday, June 24th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $13.00.

Heartland Express Stock Performance

Shares of NASDAQ:HTLD opened at $12.23 on Tuesday. The company has a market cap of $945.75 million, a price-to-earnings ratio of -43.68 and a beta of 1.33. The company has a 50-day moving average price of $13.32 and a 200-day moving average price of $12.84. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Heartland Express has a 12 month low of $6.99 and a 12 month high of $16.64.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The transportation company reported $0.14 earnings per share (EPS) for the quarter. Heartland Express had a negative return on equity of 0.92% and a negative net margin of 2.98%.The company 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. Heartland Express's quarterly revenue was down 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Heartland Express will post 0.19 EPS for the current year.

Insider Activity

In other news, Director David 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 sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 41.60% of the company's stock.

Institutional Trading of Heartland Express

Several institutional investors have recently bought and sold shares of HTLD. Punch & Associates Investment Management Inc. bought a new stake in shares of Heartland Express during the fourth quarter valued at approximately $2,619,000. Arrowstreet Capital Limited Partnership boosted its holdings in Heartland Express by 34.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 588,810 shares of the transportation company's stock worth $6,124,000 after purchasing an additional 151,589 shares during the last quarter. BlackRock Inc. bought a new stake in Heartland Express in the 2nd quarter worth approximately $104,523,000. Dimensional Fund Advisors LP grew its position in Heartland Express by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,873,653 shares of the transportation company's stock worth $40,285,000 after purchasing an additional 201,151 shares during the period. Finally, Intech Investment Management LLC raised its stake in Heartland Express by 285.2% during the 4th quarter. Intech Investment Management LLC now owns 78,916 shares of the transportation company's stock valued at $713,000 after buying an additional 58,428 shares during the last quarter. 53.45% of the stock is owned by hedge funds and other institutional investors.

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.

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