Zacks Investment Research Lowers Heartland Express, Inc. (HTLD) to Hold
Zacks Investment Research lowered shares of Heartland Express, Inc. (NASDAQ:HTLD) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “Heartland Express, Inc. is a short-to-medium haul truckload carrier based near Iowa City, Iowa. The Company provides nationwide transportation service to major shippers, using late-model tractors and a uniform fleet of 53-foot aluminum plate dry vans. “
Several other analysts also recently weighed in on HTLD. TheStreet downgraded shares of Heartland Express from a b- rating to a c+ rating in a research note on Friday, May 26th. BidaskClub raised shares of Heartland Express from a hold rating to a buy rating in a research note on Wednesday, June 14th. UBS AG raised shares of Heartland Express from a sell rating to a neutral rating and boosted their price target for the stock from $20.00 to $22.00 in a research note on Monday, July 10th. Stifel Nicolaus reissued a hold rating and issued a $23.00 price target (up from $19.00) on shares of Heartland Express in a research note on Monday, July 10th. Finally, Morgan Stanley reissued an underweight rating on shares of Heartland Express in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $16.55.
Heartland Express (NASDAQ HTLD) opened at 21.13 on Friday. The company’s 50-day moving average price is $21.16 and its 200 day moving average price is $20.31. Heartland Express has a 12 month low of $17.06 and a 12 month high of $22.69. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 31.40 and a beta of 0.51.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 23rd were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, June 21st. Heartland Express’s dividend payout ratio (DPR) is 11.76%.
Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in Heartland Express by 52.7% in the first quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock worth $171,000 after buying an additional 2,935 shares during the last quarter. State of Alaska Department of Revenue increased its position in Heartland Express by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock worth $177,000 after buying an additional 3,766 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Heartland Express by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock worth $198,000 after buying an additional 160 shares during the last quarter. Mason Street Advisors LLC increased its position in Heartland Express by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,128 shares of the transportation company’s stock worth $203,000 after buying an additional 664 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new position in Heartland Express during the first quarter worth about $448,000. 60.27% of the stock is owned by hedge funds and other institutional investors.
About Heartland Express
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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