JPMorgan Chase & Co. Reaffirms Underweight Rating for Heartland Express (NASDAQ:HTLD)

Heartland Express (NASDAQ:HTLDGet Free Report)‘s stock had its “underweight” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $10.00 price target on the transportation company’s stock, down from their previous price target of $12.00. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 14.89% from the company’s current price.

Several other analysts have also issued reports on HTLD. Barclays cut their target price on Heartland Express from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, April 30th. StockNews.com downgraded Heartland Express from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.80.

Get Our Latest Analysis on Heartland Express

Heartland Express Trading Up 1.2 %

Shares of HTLD opened at $11.75 on Tuesday. The business’s 50-day moving average price is $11.60 and its 200-day moving average price is $12.05. Heartland Express has a twelve month low of $9.63 and a twelve month high of $17.08. The stock has a market cap of $928.84 million, a PE ratio of -69.12 and a beta of 0.69. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.30.

Heartland Express (NASDAQ:HTLDGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Heartland Express had a negative return on equity of 1.50% and a negative net margin of 1.13%. The business had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $263.92 million. During the same period in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was down 18.3% compared to the same quarter last year. On average, equities analysts forecast that Heartland Express will post -0.13 EPS for the current fiscal year.

Insider Activity

In related news, Director James G. Pratt bought 9,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $11.96 per share, with a total value of $107,640.00. Following the transaction, the director now owns 23,429 shares in the company, valued at approximately $280,210.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Ann S. Gerdin Revocable Trust bought 8,089 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $10.74 per share, with a total value of $86,875.86. Following the completion of the acquisition, the insider now directly owns 849,078 shares in the company, valued at $9,119,097.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James G. Pratt acquired 9,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $11.96 per share, for a total transaction of $107,640.00. Following the completion of the acquisition, the director now owns 23,429 shares of the company’s stock, valued at approximately $280,210.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 405,490 shares of company stock valued at $4,237,451. 39.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Heartland Express

A number of institutional investors have recently added to or reduced their stakes in HTLD. CWM LLC lifted its position in Heartland Express by 266.3% during the second quarter. CWM LLC now owns 2,729 shares of the transportation company’s stock worth $34,000 after buying an additional 1,984 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Heartland Express in the first quarter valued at $62,000. Inspire Advisors LLC raised its position in Heartland Express by 23.3% in the first quarter. Inspire Advisors LLC now owns 14,715 shares of the transportation company’s stock valued at $176,000 after purchasing an additional 2,779 shares during the period. Graham Capital Management L.P. purchased a new stake in Heartland Express in the third quarter valued at $244,000. Finally, BNP Paribas Financial Markets raised its position in Heartland Express by 74.1% in the first quarter. BNP Paribas Financial Markets now owns 23,218 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 9,884 shares during the period. Hedge funds and other institutional investors 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.

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Analyst Recommendations for Heartland Express (NASDAQ:HTLD)

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