Marten Transport Lowered to “Hold” at BB&T Corp. (MRTN)
Marten Transport (NASDAQ:MRTN) was downgraded by BB&T Corp. from a “buy” rating to a “hold” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $34.00 price target on the stock. BB&T Corp.’s price objective indicates a potential upside of 46.80% from the stock’s previous close.
Shares of Marten Transport (NASDAQ:MRTN) traded down 5.05% during mid-day trading on Tuesday, hitting $22.00. 172,705 shares of the company’s stock traded hands. Marten Transport has a 52-week low of $14.87 and a 52-week high of $25.71. The stock has a 50-day moving average of $23.36 and a 200-day moving average of $20.98. The company has a market cap of $733.8 million and a price-to-earnings ratio of 27.58.
Marten Transport (NASDAQ:MRTN) last released its earnings data on Tuesday, April 15th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.03. The company had revenue of $159.40 million for the quarter, compared to the consensus estimate of $162.06 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Marten Transport will post $1.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Thursday, June 12th.
A number of other firms have also recently commented on MRTN. Analysts at KeyCorp reiterated a “buy” rating on shares of Marten Transport in a research note on Friday, May 23rd. They now have a $26.00 price target on the stock, up previously from $23.00. Separately, analysts at Stephens upgraded shares of Marten Transport from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 21st. Finally, analysts at Wunderlich raised their price target on shares of Marten Transport from $23.00 to $25.00 in a research note on Wednesday, April 16th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.19.
In other Marten Transport news, VP John H. Turner sold 1,211 shares of the stock on the open market in a transaction dated Friday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $30,275.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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