Marten Transport (NASDAQ:MRTN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation in the United States. The company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten operates through these featured services – Truckload, Dedicated, Intermodal and Brokerage. Marten Transport offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN and is headquartered in Mondovi, Wisconsin. “
A number of other brokerages have also commented on MRTN. BidaskClub lowered Marten Transport from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 28th. Seaport Global Securities upgraded Marten Transport from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, January 26th. Stephens restated a “buy” rating and issued a $25.00 target price on shares of Marten Transport in a research note on Wednesday, January 10th. Finally, ValuEngine upgraded Marten Transport from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $25.25.
Shares of Marten Transport stock opened at $22.15 on Thursday. The firm has a market cap of $1,249.59, a P/E ratio of 35.73 and a beta of 1.37. Marten Transport has a 12 month low of $12.99 and a 12 month high of $29.60.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The business had revenue of $182.70 million for the quarter, compared to analyst estimates of $177.55 million. Marten Transport had a return on equity of 7.17% and a net margin of 12.93%. Marten Transport’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. analysts anticipate that Marten Transport will post 0.92 EPS for the current fiscal year.
In other news, Director Thomas J. Winkel sold 6,250 shares of Marten Transport stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $22.55, for a total value of $140,937.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry B. Hagness sold 12,000 shares of Marten Transport stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.39, for a total value of $280,680.00. The disclosure for this sale can be found here. Insiders own 23.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MRTN. Prudential Financial Inc. grew its position in shares of Marten Transport by 110.5% in the third quarter. Prudential Financial Inc. now owns 85,982 shares of the transportation company’s stock valued at $1,767,000 after purchasing an additional 45,138 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Marten Transport by 65.3% in the third quarter. Principal Financial Group Inc. now owns 302,522 shares of the transportation company’s stock valued at $6,217,000 after purchasing an additional 119,507 shares in the last quarter. Sei Investments Co. grew its position in shares of Marten Transport by 109.8% in the third quarter. Sei Investments Co. now owns 6,198 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 3,244 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Marten Transport by 66.7% in the third quarter. New York State Common Retirement Fund now owns 130,566 shares of the transportation company’s stock valued at $2,683,000 after purchasing an additional 52,226 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Marten Transport by 128.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 19,943 shares of the transportation company’s stock valued at $410,000 after purchasing an additional 11,223 shares in the last quarter. Institutional investors own 67.58% of the company’s stock.
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Marten Transport Company Profile
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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