Heartland Express (NASDAQ:HTLD) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Heartland Express has been given a "Sell (D-)" rating by Weiss Ratings, with multiple analysts also adjusting their price targets downward.
• The company's most recent earnings report showed a net loss, with earnings per share of (0.14) missing estimates by (0.06) and year-over-year revenue down by 23.4%.
• Insider trading activity indicates confidence, as CEO Michael J. Gerdin acquired nearly 25,000 shares at an average price of $8.19, increasing his ownership significantly.

Heartland Express (NASDAQ:HTLD - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on the company. Robert W. Baird cut their price objective on Heartland Express from $9.00 to $8.50 and set a "neutral" rating for the company in a research report on Monday, July 28th. Zacks Research upgraded Heartland Express from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Barclays reduced their target price on Heartland Express from $9.00 to $8.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Baird R W upgraded Heartland Express to a "hold" rating in a report on Tuesday, July 1st. Finally, Morgan Stanley reduced their target price on Heartland Express from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $9.50.

Heartland Express Price Performance

Shares of NASDAQ:HTLD opened at $8.79 on Wednesday. Heartland Express has a one year low of $7.11 and a one year high of $12.85. The stock has a fifty day moving average of $8.36 and a 200-day moving average of $8.56. The company has a market capitalization of $680.42 million, a PE ratio of -19.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95.

Heartland Express (NASDAQ:HTLD - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The transportation company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). Heartland Express had a negative net margin of 3.85% and a negative return on equity of 4.42%. The company had revenue of $210.39 million for the quarter, compared to analyst estimates of $229.12 million. During the same quarter last year, the company posted ($0.04) EPS. Heartland Express's revenue was down 23.4% on a year-over-year basis. As a group, equities analysts anticipate that Heartland Express will post 0.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael J. Gerdin acquired 24,798 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $8.19 per share, for a total transaction of $203,095.62. Following the completion of the acquisition, the chief executive officer owned 1,491,868 shares in the company, valued at approximately $12,218,398.92. The trade was a 1.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 30,000 shares of company stock worth $245,752 in the last ninety days. 40.70% of the stock is currently owned by company insiders.

Institutional Trading of Heartland Express

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Heartland Express by 196.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 45,273 shares of the transportation company's stock valued at $417,000 after buying an additional 30,010 shares in the last quarter. SG Americas Securities LLC raised its holdings in Heartland Express by 149.2% during the first quarter. SG Americas Securities LLC now owns 48,681 shares of the transportation company's stock valued at $449,000 after buying an additional 29,145 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Heartland Express by 2.6% during the first quarter. Principal Financial Group Inc. now owns 215,713 shares of the transportation company's stock valued at $1,989,000 after buying an additional 5,447 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Heartland Express by 29.8% during the first quarter. Victory Capital Management Inc. now owns 66,345 shares of the transportation company's stock valued at $612,000 after buying an additional 15,251 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Heartland Express by 317.0% during the first quarter. GAMMA Investing LLC now owns 3,236 shares of the transportation company's stock valued at $300,000 after buying an additional 2,460 shares in the last quarter. 53.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.