Barclays analyst Brandon Oglenski downgraded Heartland Express Inc (NASDAQ: HTLD) to Underweight from Equal Weight and lowered the price target to , from $17.
Oglenski notes the trucking company "appears challenged" in a tight freight market, with its core fleet likely set to contract for another year in 2022.
The analyst adds that while Heartland remains a margin leader within the truckload sector, focusing on the most profitable freight in a highly competitive market leaves little opportunity for organic growth and historical challenges executing acquisitions.
Recently, Oglenski lowered the price target to $17 from $19, noting pricing remains key as the supply-driven volume recovery likely pushed out for the North American transportation sector.
Price Action: HTLD shares traded lower by 4.73% at $14.88 on the last check Wednesday.
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