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Analyst Downgrade for Heartland Express (NASDAQ:HTLD)
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Heartland Express (NASDAQ:HTLD) has been downgraded by analysts at RBC Capital Markets from outperform to sectorperform. Analysts have also moved their price target for the stock from $29 to $26. Below we look at the fundamentals of HTLD.
Heartland Express (NASDAQ:HTLD), a player in the Trucking industry closed the previous trading day at $25.51 after moving down -1.28% for the day.
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HTLD is trading with a trailing 12 month P/E multiple of 26.57 and an estimated forward P/E multiple of 20.61. The stock has an estimated 5 year annual growth of 14.32% and a PEG multiple of 1.86.
The P/E to growth multiple (PEG) takes into account the expected long term growth in earnings of the company rather than merely the growth for one earnings period ahead as forward P/E does.
As a general rule of thumb, a stock with a PEG of between 0 and 1 is usually considered to be underpriced, between 1 and 2 to be at fair value and over 2 to be overpriced. Based on the PEG ratio of HTLD being 1.86, we consider Heartland Express to likely be fairly priced.
The mean analyst 12 month target price for Heartland Express (NASDAQ:HTLD) is currently $26.00 or 1.92% above the current price. Additionally, within the last 52 weeks of trading the stock has had a low of $19.96 and a high of $27.96. Analysts are estimating that HTLD will report earnings for the coming year of $1.22.
It would appear that analysts at RBC Capital Markets have lowered their expectations to market consensus on pricing and also in line with the fundamentals which suggest HTLD is fairly priced.
