Price Action Report: What’s Propelling Heartland Express, Inc. to Reach 52-Week High?

Price Action Report: What's Propelling Heartland Express, Inc. to Reach 52 Week High?

The stock of Heartland Express, Inc. (NASDAQ:HTLD) hit a new 52-week high and has $27.04 target or 22.00% above today’s $22.16 share price. The 5 months bullish chart indicates low risk for the $1.86B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $27.04 price target is reached, the company will be worth $409.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.23% or $0.05 during the last trading session, hitting $22.16. About 418,712 shares traded hands. Heartland Express, Inc. (NASDAQ:HTLD) has risen 25.41% since April 15, 2016 and is uptrending. It has outperformed by 20.79% the S&P500.

Heartland Express, Inc. (NASDAQ:HTLD) Ratings Coverage

Out of 9 analysts covering Heartland Express (NASDAQ:HTLD), 0 rate it a “Buy”, 4 “Sell”, while 5 “Hold”. This means 0 are positive. Heartland Express has been the topic of 16 analyst reports since July 30, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded the stock to “Underperform” rating in Thursday, January 7 report. The firm has “Underperform” rating given on Wednesday, October 28 by Wolfe Research. The stock of Heartland Express, Inc. (NASDAQ:HTLD) earned “Underweight” rating by Barclays Capital on Monday, October 5. The firm has “Underweight” rating given on Tuesday, January 12 by Barclays Capital. The rating was maintained by Macquarie Research on Wednesday, October 28 with “Neutral”. The company was downgraded on Thursday, April 7 by KeyBanc Capital Markets. The firm earned “Equal-Weight” rating on Friday, October 21 by Stephens. As per Monday, May 9, the company rating was downgraded by Wells Fargo. The stock has “Neutral” rating given by Longbow on Friday, December 4. The firm has “Underweight” rating by Barclays Capital given on Wednesday, April 6.

According to Zacks Investment Research, “Heartland Express, Inc. is a short-to-medium haul truckload carrier based near Iowa City, Iowa. The Company provides nationwide transportation service to major shippers, using late-model tractors and a uniform fleet of 53-foot aluminum plate dry vans.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.30, from 1.25 in 2016Q1. The ratio dropped, as 11 funds sold all Heartland Express, Inc. shares owned while 50 reduced positions. 14 funds bought stakes while 44 increased positions. They now own 46.49 million shares or 4.89% less from 48.88 million shares in 2016Q1.
The Pennsylvania-based Stevens Cap Mgmt Lp has invested 0.02% in Heartland Express, Inc. (NASDAQ:HTLD). Tiaa Cref Inv Management Lc accumulated 173,460 shares or 0% of the stock. Teachers Retirement System Of The State Of Kentucky owns 19,700 shares or 0% of their US portfolio. Pinebridge Investments Limited Partnership accumulated 7,494 shares or 0.01% of the stock. Citigroup accumulated 0% or 33,003 shares. Kayne Anderson Rudnick Invest Mngmt Limited Liability Corp holds 0.07% of its portfolio in Heartland Express, Inc. (NASDAQ:HTLD) for 285,719 shares. Prudential Finance last reported 0% of its portfolio in the stock. Archford Cap Strategies Ltd Liability accumulated 0% or 192 shares. Sprucegrove Invest Management Limited owns 131,473 shares or 0.09% of their US portfolio. Walleye Trading Limited Liability Co holds 14,432 shares or 0% of its portfolio. Weiss Multi holds 0.19% or 139,787 shares in its portfolio. Goldman Sachs Gp Incorporated owns 90,139 shares or 0% of their US portfolio. Nationwide Fund Advisors last reported 404,051 shares in the company. Pacad Invest Ltd reported 7,100 shares or 0.02% of all its holdings. State Of Tennessee Treasury Department, a Tennessee-based fund reported 49,087 shares.

Insider Transactions: Since June 14, 2016, the stock had 0 insider buys, and 2 sales for $1.78 million net activity. The insider COSAERT JOHN P sold $79,394. Gordon Larry J. had sold 95,934 shares worth $1.70M on Tuesday, June 14.

HTLD Company Profile

Heartland Express, Inc. (Heartland), incorporated on August 8, 1986, is a holding company. The Firm owns all of the stock of Heartland Express Inc. of Iowa, Gordon Trucking, Inc. (GTI), Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc. and A & M Express, Inc. The Firm provides nationwide transportation services to shippers spanning from Washington to Florida and New England to California, as well as parts of Canada. It offers primarily asset transportation services in the dry van truckload market and offers temperature-controlled transportation services and non-asset based freight brokerage services.

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