Heartland Express (NASDAQ:HTLD) Sets New 52-Week High Following Earnings Beat

Heartland Express, Inc. (NASDAQ:HTLD)’s stock price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $11.86 and last traded at $11.78, with a volume of 1132320 shares traded. The stock had previously closed at $11.08.

The transportation company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $194.54 million. Heartland Express had a negative net margin of 6.51% and a negative return on equity of 4.74%. The company’s revenue was down 26.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) earnings per share.

Heartland Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Friday, December 26th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, December 26th. Heartland Express’s dividend payout ratio is -11.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $9.00 price target on Heartland Express in a research report on Thursday, January 15th. Robert W. Baird set a $12.00 target price on Heartland Express and gave the stock an “outperform” rating in a report on Monday, January 5th. Wall Street Zen cut shares of Heartland Express from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Heartland Express in a report on Monday, December 22nd. Finally, Barclays raised their price objective on shares of Heartland Express from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $9.75.

Institutional Investors Weigh In On Heartland Express

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Heartland Express by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,708 shares of the transportation company’s stock valued at $255,000 after buying an additional 1,170 shares in the last quarter. Caxton Associates LLP purchased a new position in Heartland Express during the 1st quarter valued at about $133,000. Jane Street Group LLC acquired a new position in shares of Heartland Express in the 1st quarter valued at about $907,000. State of Alaska Department of Revenue increased its holdings in shares of Heartland Express by 7.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,680 shares of the transportation company’s stock valued at $220,000 after purchasing an additional 1,751 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Heartland Express by 24.4% in the second quarter. Inspire Investing LLC now owns 53,948 shares of the transportation company’s stock worth $466,000 after purchasing an additional 10,594 shares in the last quarter. Institutional investors and hedge funds own 53.45% of the company’s stock.

Heartland Express Stock Performance

The firm’s fifty day moving average is $9.68 and its 200 day moving average is $8.69. The firm has a market capitalization of $912.36 million, a price-to-earnings ratio of -17.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 1.14.

About Heartland Express

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.