Heartland Express (NASDAQ:HTLD) Shares Gap Up - Here's What Happened

Key Points

• Shares of Heartland Express gapped up pre-market from $10.75 to $11.47 and last traded around $11.52, roughly a 2.7% gain on about 18,564 shares.
• Analysts are mixed but cautious: MarketBeat's consensus rating is Reduce with an average price target of $10.20, while individual ratings range from Strong Buy to Sell.
• In the latest quarter the company reported EPS of -$0.06 (beating estimates by $0.01) but revenue fell 26.1% year-over-year to $157.7M, and the business remains unprofitable.

Heartland Express, Inc. (NASDAQ:HTLD - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $10.75, but opened at $11.47. Heartland Express shares last traded at $11.5190, with a volume of 18,564 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Heartland Express from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Heartland Express in a report on Friday, March 27th. UBS Group upped their price objective on Heartland Express from $8.50 to $11.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Robert W. Baird set a $12.00 price objective on Heartland Express and gave the company an "outperform" rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded Heartland Express from a "hold" rating to a "sell" rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Heartland Express has a consensus rating of "Reduce" and an average price target of $10.20.

Heartland Express Stock Up 2.7%

The firm has a fifty day simple moving average of $10.69 and a 200-day simple moving average of $9.53. The company has a market capitalization of $901.40 million, a P/E ratio of -17.11 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.20.

Heartland Express (NASDAQ:HTLD - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The transportation company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Heartland Express had a negative return on equity of 4.79% and a negative net margin of 6.51%.The company had revenue of $157.68 million during the quarter, compared to the consensus estimate of $194.54 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The company's revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that Heartland Express, Inc. will post 0.17 EPS for the current fiscal year.

Heartland Express Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Magnolia Group LLC acquired a new position in Heartland Express during the third quarter valued at approximately $4,062,000. GSA Capital Partners LLP boosted its position in Heartland Express by 237.4% during the third quarter. GSA Capital Partners LLP now owns 103,373 shares of the transportation company's stock valued at $866,000 after purchasing an additional 72,739 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Heartland Express during the third quarter valued at approximately $89,000. State of Alaska Department of Revenue boosted its position in Heartland Express by 5.9% during the third quarter. State of Alaska Department of Revenue now owns 27,205 shares of the transportation company's stock valued at $227,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Inspire Advisors LLC boosted its position in Heartland Express by 9.8% during the third quarter. Inspire Advisors LLC now owns 21,191 shares of the transportation company's stock valued at $178,000 after purchasing an additional 1,893 shares during the last quarter. 53.45% of the stock is owned by institutional investors and hedge funds.

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.

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