Zacks Investment Research downgraded shares of Heartland Express (NASDAQ:HTLD) from a hold rating to a sell rating in a research note issued to investors on Saturday.
According to Zacks, “Heartland Express, Inc. is a leader in transportation and logistics. Heartland Express provides collaborative truckload transportation service that enables companies to deliver exceptional service across their transportation network to improve customer satisfaction. The company provides truckload transportation service to virtually all markets east of the Rocky Mountains at any length of haul. Heartland Express transports a variety of goods, including automotive parts, consumer goods, paper and plastic products, retail goods, and packaged foodstuffs. The company serves the truckload transportation needs of the top shippers in America. Heartland operates in the United States and is headquartered in North Liberty, IA. “
HTLD has been the subject of several other research reports. BidaskClub cut Heartland Express from a hold rating to a sell rating in a research note on Thursday, January 18th. Seaport Global Securities reaffirmed a neutral rating on shares of Heartland Express in a research note on Tuesday, February 13th. TheStreet cut Heartland Express from a b rating to a c rating in a research note on Friday, October 27th. Barclays decreased their target price on Heartland Express from $21.00 to $20.00 and set an underweight rating for the company in a research note on Wednesday, November 1st. Finally, UBS Group raised their target price on Heartland Express from $22.00 to $23.00 and gave the stock a neutral rating in a research note on Monday, October 30th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $24.33.
Heartland Express (NASDAQ:HTLD) last released its earnings results on Monday, February 12th. The transportation company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). Heartland Express had a return on equity of 7.84% and a net margin of 12.38%. The business had revenue of $165.00 million for the quarter, compared to analyst estimates of $190.22 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. equities research analysts predict that Heartland Express will post 0.73 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in Heartland Express by 1.0% in the second quarter. Wells Fargo & Company MN now owns 35,742 shares of the transportation company’s stock valued at $745,000 after acquiring an additional 345 shares during the period. Royal Bank of Canada grew its stake in Heartland Express by 3.8% in the second quarter. Royal Bank of Canada now owns 27,697 shares of the transportation company’s stock valued at $577,000 after acquiring an additional 1,006 shares during the period. The Manufacturers Life Insurance Company grew its stake in Heartland Express by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 38,365 shares of the transportation company’s stock valued at $799,000 after acquiring an additional 1,704 shares during the period. American International Group Inc. grew its stake in Heartland Express by 8.2% in the third quarter. American International Group Inc. now owns 37,779 shares of the transportation company’s stock valued at $947,000 after acquiring an additional 2,874 shares during the period. Finally, Fortaleza Asset Management Inc. grew its stake in Heartland Express by 38.6% in the third quarter. Fortaleza Asset Management Inc. now owns 10,500 shares of the transportation company’s stock valued at $263,000 after acquiring an additional 2,925 shares during the period. 59.44% of the stock is owned by hedge funds and other institutional investors.
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Heartland Express Company Profile
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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