Heartland Express (NASDAQ:HTLD) Sees Strong Trading Volume Following Strong Earnings

Heartland Express, Inc. (NASDAQ:HTLDGet Rating) saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 6,800 shares were traded during trading, a decline of 97% from the previous session’s volume of 195,092 shares.The stock last traded at $15.29 and had previously closed at $14.76.

The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.72. Heartland Express had a return on equity of 11.27% and a net margin of 13.58%. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $164.27 million. During the same period in the previous year, the firm posted $0.26 EPS. Heartland Express’s revenue was up 21.5% compared to the same quarter last year.

Heartland Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 27th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, June 24th. Heartland Express’s payout ratio is 7.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HTLD shares. UBS Group lifted their price objective on Heartland Express to $16.00 in a report on Tuesday. Stephens decreased their target price on shares of Heartland Express from $18.00 to $15.00 in a research note on Friday, April 1st. StockNews.com raised shares of Heartland Express from a “hold” rating to a “buy” rating in a research note on Wednesday, April 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Heartland Express from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, April 8th.

Institutional Trading of Heartland Express

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Heartland Express during the 2nd quarter valued at approximately $187,000. KBC Group NV purchased a new stake in shares of Heartland Express during the 2nd quarter valued at approximately $46,000. Ziegler Capital Management LLC raised its position in shares of Heartland Express by 3.1% during the 2nd quarter. Ziegler Capital Management LLC now owns 94,712 shares of the transportation company’s stock valued at $1,317,000 after buying an additional 2,880 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Heartland Express by 3.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 94,283 shares of the transportation company’s stock valued at $1,311,000 after buying an additional 2,798 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Heartland Express by 8.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 35,225 shares of the transportation company’s stock valued at $489,000 after buying an additional 2,860 shares during the period. Hedge funds and other institutional investors own 54.82% of the company’s stock.

Heartland Express Stock Performance

The stock has a market cap of $1.21 billion, a PE ratio of 14.72 and a beta of 0.49. The company’s 50-day moving average price is $14.10 and its 200 day moving average price is $14.27.

Heartland Express Company Profile

(Get Rating)

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.

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