Marten Transport (MRTN) Announces Quarterly Earnings Results, Hits Estimates
Marten Transport (NASDAQ:MRTN) posted its quarterly earnings results on Tuesday. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24, Analyst Ratings Net reports. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $168.47 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis.
Marten Transport (NASDAQ:MRTN) traded up 0.92% on Tuesday, hitting $16.53. 102,992 shares of the company’s stock traded hands. Marten Transport has a 52-week low of $11.3667 and a 52-week high of $18.62. The stock’s 50-day moving average is $17.18 and its 200-day moving average is $16.. The company has a market cap of $549.2 million and a P/E ratio of 18.66.
Several analysts have recently commented on the stock. Analysts at Sidoti initiated coverage on shares of Marten Transport in a research note to investors on Friday, September 20th. They set a “neutral” rating on the stock. On a related note, analysts at Wunderlich raised their price target on shares of Marten Transport from $15.50 to $19.00 in a research note to investors on Thursday, July 18th. Finally, analysts at Avondale Partners upgraded shares of Marten Transport from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, July 18th. They now have a $20.00 price target on the stock, up previously from $19.50. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.38.
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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