Marten Transport Stock Price Down 3% Following Weak Earnings (MRTN)
Marten Transport (NASDAQ:MRTN)’s share price traded down 3% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings, AnalystRatings.NET reports. The company traded as low as $21.17 and last traded at $21.41, with a volume of 231,671 shares changing hands. The stock had previously closed at $22.08.
The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $168.40 million for the quarter, compared to the consensus estimate of $172.10 million. During the same quarter last year, the company posted $0.23 earnings per share. Marten Transport’s revenue was up 4.3% compared to the same quarter last year.
A number of research firms have recently commented on MRTN. Analysts at BB&T Corp. downgraded shares of Marten Transport from a “buy” rating to a “hold” rating in a research note on Tuesday, June 17th. They now have a $34.00 price target on the stock. Separately, 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. Finally, 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.17.
The stock has a 50-day moving average of $22.94 and a 200-day moving average of $21.42. The company has a market cap of $709.8 million and a price-to-earnings ratio of 26.29.
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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