Marten Transport (NASDAQ:MRTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $22.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.11% from the stock’s previous close.
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 research firms have also commented on MRTN. BidaskClub lowered Marten Transport from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Stifel Nicolaus lowered Marten Transport from a “hold” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Tuesday, July 10th. Stephens set a $22.00 price target on Marten Transport and gave the stock a “hold” rating in a report on Wednesday. Finally, ValuEngine lowered Marten Transport from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.75.
Shares of NASDAQ MRTN opened at $19.28 on Friday. Marten Transport has a 1-year low of $17.50 and a 1-year high of $29.60. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 31.10 and a beta of 1.39.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Tuesday, October 16th. The transportation company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Marten Transport had a return on equity of 8.81% and a net margin of 13.62%. The business had revenue of $199.60 million during the quarter, compared to analyst estimates of $203.10 million. During the same period in the prior year, the company earned $0.14 earnings per share. Marten Transport’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts predict that Marten Transport will post 0.99 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Marten Transport by 4,804.6% during the second quarter. Victory Capital Management Inc. now owns 1,034,321 shares of the transportation company’s stock valued at $24,255,000 after buying an additional 1,013,232 shares during the period. KAMES CAPITAL plc bought a new stake in Marten Transport during the second quarter valued at $7,195,000. BlackRock Inc. boosted its stake in Marten Transport by 5.5% during the second quarter. BlackRock Inc. now owns 5,709,153 shares of the transportation company’s stock valued at $133,879,000 after buying an additional 297,592 shares during the period. Penn Capital Management Co. Inc. boosted its stake in Marten Transport by 152.3% during the second quarter. Penn Capital Management Co. Inc. now owns 482,521 shares of the transportation company’s stock valued at $11,324,000 after buying an additional 291,287 shares during the period. Finally, Intrinsic Edge Capital Management LLC boosted its stake in Marten Transport by 73.0% during the second quarter. Intrinsic Edge Capital Management LLC now owns 529,524 shares of the transportation company’s stock valued at $12,417,000 after buying an additional 223,487 shares during the period. 71.06% of the stock is owned by hedge funds and other institutional investors.
About Marten Transport
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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