Heartland Express Inc. [NASDAQ: HTLD] price surged by 1.11 percent to reach at $0.22. Recently, on July 21, the company made an update reporting that it has signed an agreement with an underwriter in accordance with which it has agreed to purchase the Heartland’s common stock shares via a selling stockholder.
As per the deal, the selling stockholder of the company’s common stock will offer 3,260,870 shares at a per-share price of $20.50. Moreover, the selling stockholder will grant a 30-day option to the underwriter to purchase up to 489,130 common stock shares, as Morgan Stanley is the underwriter of the following offering. Heartland will not attain any gross proceeds from the offering as it will be received by the selling stockholder.
A sum of 980054 shares traded at recent session while its average daily volume was at 399.79K shares. Heartland Express Inc. shares reached a high of $20.52 and dropped to a low of $19.91 until finishing in the latest session at $20.45.
The one-year HTLD stock forecast points to a potential downside of -2.87. The average equity rating for HTLD stock is currently 3.20, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Heartland Express Inc. [HTLD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HTLD shares is $19.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HTLD stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wolfe Research have made an estimate for Heartland Express Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on July 17, 2020. The new note on the price target was released on March 17, 2020, representing the official price target for Heartland Express Inc. stock. Previously, the target price had yet another raise to $25, while KeyBanc Capital Markets analysts kept a Overweight rating on HTLD stock.
The Average True Range (ATR) for Heartland Express Inc. is set at 0.71, with the Price to Sales ratio for HTLD stock in the period of the last 12 months amounting to 2.49. The Price to Book ratio for the last quarter was 2.45, with the Price to Cash per share for the same quarter was set at 0.82.
HTLD Stock Performance Analysis:
Heartland Express Inc. [HTLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.22. With this latest performance, HTLD shares dropped by -0.15% in over the last four-week period, additionally plugging by 0.94% over the last 6 months – not to mention a rise of 1.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HTLD stock in for the last two-week period is set at 45.05, with the RSI for the last a single of trading hit 42.92, and the three-weeks RSI is set at 47.87 for Heartland Express Inc. [HTLD]. The present Moving Average for the last 50 days of trading for this stock 20.74, while it was recorded at 21.15 for the last single week of trading, and 20.22 for the last 200 days.
Insight into Heartland Express Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Heartland Express Inc. [HTLD] shares currently have an operating margin of +10.54 and a Gross Margin at +15.66. Heartland Express Inc.’s Net Margin is presently recorded at +12.23.
Return on Total Capital for HTLD is now 9.68, given the latest momentum, and Return on Invested Capital for the company is 11.22. Return on Equity for this stock inclined to 11.22, with Return on Assets sitting at 8.56.
Reflecting on the efficiency of the workforce at the company, Heartland Express Inc. [HTLD] managed to generate an average of $18,017 per employee. Receivables Turnover for the company is 11.24 with a Total Asset Turnover recorded at a value of 0.70.Heartland Express Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
HTLD Stock EPS
With the latest financial reports released by the company, Heartland Express Inc. posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.25/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HTLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Heartland Express Inc. go to 5.80%.
Heartland Express Inc. [HTLD] Insider Position Details
There are presently around $904 million, or 54.70% of HTLD stock, in the hands of institutional investors. The top three institutional holders of HTLD stocks are: AMERICAN CENTURY COMPANIES INC with ownership of 8,454,058, which is approximately 3.663% of the company’s market cap and around 44.05% of the total institutional ownership; BLACKROCK INC., holding 7,126,300 shares of the stock with an approximate value of $145.73 million in HTLD stocks shares; and VANGUARD GROUP INC, currently with $97.09 million in HTLD stock with ownership of nearly 1.412% of the company’s market capitalization.
Positions in Heartland Express Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 85 institutional holders increased their position in Heartland Express Inc. [NASDAQ:HTLD] by around 3,290,872 shares. Additionally, 74 investors decreased positions by around 4,669,071 shares, while 30 investors held positions by with 36,231,336 shares. The mentioned changes placed institutional holdings at 44,191,279 shares, according to the latest SEC report filing. HTLD stock had 28 new institutional investments in for a total of 1,895,854 shares, while 24 institutional investors sold positions of 898,121 shares during the same period.