Heartland Express (NASDAQ:HTLD) Trading Down 2.9% on Analyst Downgrade

Heartland Express, Inc. (NASDAQ:HTLD - Get Free Report)'s share price dropped 2.9% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $11.00 to $9.00. Barclays currently has an underweight rating on the stock. Heartland Express traded as low as $9.00 and last traded at $9.03. Approximately 64,517 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 401,262 shares. The stock had previously closed at $9.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Heartland Express during the fourth quarter worth approximately $42,000. R Squared Ltd bought a new position in Heartland Express during the fourth quarter valued at about $75,000. Meeder Asset Management Inc. acquired a new position in Heartland Express during the fourth quarter valued at approximately $79,000. KLP Kapitalforvaltning AS bought a new stake in Heartland Express during the fourth quarter valued at about $105,000. Finally, Intech Investment Management LLC bought a new position in Heartland Express in the 3rd quarter worth approximately $124,000. Institutional investors and hedge funds own 53.45% of the company's stock.

Heartland Express Stock Down 3.6 %

The firm's 50-day simple moving average is $10.29 and its 200-day simple moving average is $11.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.08. The company has a market capitalization of $644.26 million, a price-to-earnings ratio of -22.35 and a beta of 0.97.

Heartland Express (NASDAQ:HTLD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Heartland Express had a negative return on equity of 3.57% and a negative net margin of 2.84%. Sell-side analysts forecast that Heartland Express, Inc. will post 0.17 earnings per share for the current year.

Remove Ads

Heartland Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 25th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $0.08 annualized dividend and a yield of 0.98%. Heartland Express's dividend payout ratio (DPR) is presently -21.62%.

About Heartland Express

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.