Barclays Downgrades This Truckload Services Provider - Heartland Express (NASDAQ:HTLD)

Barclays analyst Brandon Oglenski downgraded Heartland Express Inc HTLD to Underweight from Equal Weight and lowered the price target to $15, 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.