Heartland Express (NASDAQ:HTLD) Sets New 52-Week High Following Strong Earnings

Key Points

• Shares hit a new 52-week high after Heartland Express reported quarterly EPS of ($0.06), beating analysts' ($0.13) estimate and trading as high as $12.21.
• Despite the rally, the company remains unprofitable (net margin -6.51%, ROE -4.79%, negative P/E) and analysts' consensus rating is "Reduce" with a consensus price target of $10.20, below the current share price.
• Heartland paid a $0.02 quarterly dividend (annualized $0.08, 0.7% yield) and institutional investors own 53.45% of the stock, with several funds recently increasing their positions.

Shares of Heartland Express, Inc. (NASDAQ:HTLD - Get Free Report) reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $12.21 and last traded at $12.0910, with a volume of 38339 shares changing hands. The stock had previously closed at $11.58.

The transportation company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.07. Heartland Express had a negative net margin of 6.51% and a negative return on equity of 4.79%.

Heartland Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Tuesday, March 24th were given a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. Heartland Express's dividend payout ratio (DPR) is -11.76%.

Analysts Set New Price Targets

HTLD has been the topic of several research analyst reports. Morgan Stanley set a $9.00 target price on Heartland Express in a research report on Thursday, January 15th. Barclays increased their price target on Heartland Express from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Heartland Express from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Heartland Express in a research report on Friday, March 27th. Finally, UBS Group increased their target price on shares of Heartland Express from $8.50 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Heartland Express presently has an average rating of "Reduce" and a consensus price target of $10.20.

Institutional Investors Weigh In On Heartland Express

Hedge funds and other institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its position in Heartland Express by 72.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,153,238 shares of the transportation company's stock valued at $9,664,000 after purchasing an additional 485,658 shares during the period. Magnolia Group LLC bought a new position in shares of Heartland Express in the third quarter valued at $4,062,000. Ameriprise Financial Inc. lifted its stake in shares of 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 grew its holdings in shares of Heartland Express by 91.0% during 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 during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Heartland Express during the fourth quarter valued at about $2,619,000. Institutional investors own 53.45% of the company's stock.

Heartland Express Trading Up 5.2%

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The firm's 50-day moving average price is $10.70 and its 200 day moving average price is $9.63. The company has a market capitalization of $943.31 million, a P/E ratio of -17.82 and a beta of 1.11.

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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