Heartland Express (NASDAQ:HTLD) Shares Down 2.9% After Analyst Downgrade

Heartland Express, Inc. (NASDAQ:HTLD)’s stock price fell 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. 64,517 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 401,262 shares. The stock had previously closed at $9.30.

Hedge Funds Weigh In On Heartland Express

Several institutional investors have recently bought and sold shares of HTLD. Wealthedge Investment Advisors LLC purchased a new stake in shares of Heartland Express during the 4th quarter valued at about $311,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Heartland Express by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,280 shares of the transportation company’s stock worth $991,000 after acquiring an additional 12,021 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Heartland Express by 55.6% in the 4th quarter. Two Sigma Advisers LP now owns 560,300 shares of the transportation company’s stock worth $6,287,000 after purchasing an additional 200,100 shares during the period. Two Sigma Investments LP increased its position in Heartland Express by 31.3% during the fourth quarter. Two Sigma Investments LP now owns 414,856 shares of the transportation company’s stock valued at $4,655,000 after acquiring an additional 98,866 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Heartland Express in the 4th quarter worth about $212,000. Institutional investors own 53.45% of the company’s stock.

Heartland Express Stock Performance

The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $707.34 million, a PE ratio of -24.40 and a beta of 0.80. The business’s 50 day moving average is $10.47 and its 200 day moving average is $11.26.

Heartland Express (NASDAQ:HTLD) last announced its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Heartland Express had a negative net margin of 2.84% and a negative return on equity of 3.57%. On average, equities research analysts predict that Heartland Express, Inc. will post 0.17 earnings per share for the current fiscal year.

Heartland Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.08 annualized dividend and a dividend yield of 0.89%. Heartland Express’s dividend payout ratio is presently -21.62%.

Heartland Express Company Profile

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.