Heartland Express (NASDAQ:HTLD) Given New $14.00 Price Target at Morgan Stanley

Heartland Express (NASDAQ:HTLDFree Report) had its price target decreased by Morgan Stanley from $15.00 to $14.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.

Separately, JPMorgan Chase & Co. cut their price objective on shares of Heartland Express from $15.00 to $14.00 and set a neutral rating on the stock in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $14.25.

Check Out Our Latest Stock Report on HTLD

Heartland Express Price Performance

HTLD stock opened at $13.24 on Monday. The firm has a market cap of $1.05 billion, a P/E ratio of 73.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 1.37. Heartland Express has a 1 year low of $11.44 and a 1 year high of $17.08. The stock has a 50-day simple moving average of $13.53 and a 200-day simple moving average of $14.14.

Heartland Express (NASDAQ:HTLDGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $275.35 million during the quarter, compared to analysts’ expectations of $293.36 million. Heartland Express had a return on equity of 1.71% and a net margin of 1.22%. On average, equities analysts predict that Heartland Express will post 0.13 earnings per share for the current fiscal year.

Heartland Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, December 4th. Heartland Express’s payout ratio is currently 44.44%.

Insider Activity at Heartland Express

In related news, Director Michael John Sullivan acquired 2,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $12.92 per share, with a total value of $25,840.00. Following the acquisition, the director now directly owns 22,331 shares in the company, valued at $288,516.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael J. Gerdin acquired 95,602 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $13.08 per share, with a total value of $1,250,474.16. Following the completion of the acquisition, the chief executive officer now directly owns 427,794 shares in the company, valued at $5,595,545.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael John Sullivan acquired 2,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $25,840.00. Following the purchase, the director now directly owns 22,331 shares of the company’s stock, valued at $288,516.52. The disclosure for this purchase can be found here. Insiders have purchased 297,780 shares of company stock valued at $4,030,327 over the last ninety days. Corporate insiders own 39.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in Heartland Express by 115.0% in the third quarter. First Eagle Investment Management LLC now owns 394,367 shares of the transportation company’s stock worth $5,793,000 after purchasing an additional 210,935 shares during the period. Barclays PLC grew its position in shares of Heartland Express by 3.7% during the 2nd quarter. Barclays PLC now owns 25,185 shares of the transportation company’s stock valued at $413,000 after buying an additional 906 shares during the last quarter. Inspire Investing LLC raised its stake in Heartland Express by 7.5% during the third quarter. Inspire Investing LLC now owns 23,644 shares of the transportation company’s stock worth $347,000 after acquiring an additional 1,654 shares during the period. Bank of New York Mellon Corp raised its stake in Heartland Express by 99.2% during the third quarter. Bank of New York Mellon Corp now owns 1,224,494 shares of the transportation company’s stock worth $17,988,000 after acquiring an additional 609,769 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Heartland Express by 6.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,679 shares of the transportation company’s stock worth $864,000 after acquiring an additional 3,337 shares during the last quarter. Institutional investors and hedge funds own 53.45% of the company’s stock.

About Heartland Express

(Get Free Report)

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.

Further Reading

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