Key Points
- Heartland Express director David Paul Millis sold 31,402 shares on June 15 at an average price of $15.67, totaling about $492,069. The sale reduced his stake by 52.52% to 28,387 shares.
- The company recently reported mixed quarterly results, posting a smaller-than-expected loss of $0.06 per share versus estimates for a $0.13 loss, but revenue came in below expectations at $153.81 million and fell 19.7% year over year.
- Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $12.20, even though some firms have raised targets recently. Heartland Express also declared a quarterly dividend of $0.02 per share, payable July 6.
Heartland Express, Inc. (NASDAQ:HTLD - Get Free Report) Director David Paul Millis sold 31,402 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the sale, the director 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 legal filing with the SEC, which is accessible through this hyperlink.
Heartland Express Stock Performance
Shares of HTLD stock opened at $14.33 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.27 and a current ratio of 1.27. Heartland Express, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.64. The stock has a 50 day moving average price of $13.53 and a two-hundred day moving average price of $11.34. The company has a market capitalization of $1.11 billion, a P/E ratio of -25.59 and a beta of 1.31.
Heartland Express (NASDAQ:HTLD - Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The transportation company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. Heartland Express had a negative return on equity of 3.70% and a negative net margin of 5.69%.The firm had revenue of $153.81 million during the quarter, compared to the consensus estimate of $177.30 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The business's revenue was down 19.7% on a year-over-year basis. Analysts expect that Heartland Express, Inc. will post 0.04 earnings per share for the current year.
Heartland Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be given a $0.02 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $0.08 annualized dividend and a yield of 0.6%. Heartland Express's payout ratio is presently -14.29%.
Analysts Set New Price Targets
Several analysts have weighed in on HTLD shares. Robert W. Baird boosted their price objective on Heartland Express from $12.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Heartland Express in a report on Friday, March 27th. Barclays upped their target price on Heartland Express from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Tuesday, April 28th. UBS Group upped their target price on Heartland Express from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Finally, Morgan Stanley set a $12.00 target price on Heartland Express in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $12.20.
Check Out Our Latest Research Report on HTLD
Hedge Funds Weigh In On Heartland Express
A number of hedge funds and other institutional investors have recently made changes to their positions in HTLD. Quarry LP bought a new position in shares of Heartland Express during the fourth quarter valued at approximately $25,000. PNC Financial Services Group Inc. raised its holdings in Heartland Express by 76.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,905 shares of the transportation company's stock worth $26,000 after purchasing an additional 1,261 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Heartland Express by 185.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,673 shares of the transportation company's stock worth $40,000 after purchasing an additional 3,036 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Heartland Express by 51.3% in the third quarter. BNP Paribas Financial Markets now owns 11,549 shares of the transportation company's stock worth $97,000 after purchasing an additional 3,918 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. bought a new position in Heartland Express in the third quarter worth $101,000. Institutional investors own 53.45% of the company's stock.
About Heartland Express
(
Get Free Report)
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.
Further Reading
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