Marten Transport Short Interest Up 35.9% in July (MRTN)
Shares of Marten Transport (NASDAQ:MRTN) were the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 760,173 shares, a growth of 35.9% from the July 15th total of 559,227 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 197,767 shares, the short-interest ratio is currently 3.8 days. Currently, 3.2% of the shares of the stock are short sold.
MRTN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Marten Transport from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 22nd. They now have a $20.40 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $26.35.
Shares of Marten Transport (NASDAQ:MRTN) opened at 19.94 on Thursday. Marten Transport has a 1-year low of $15.98 and a 1-year high of $25.71. The stock’s 50-day moving average is $21.33 and its 200-day moving average is $21.48. The company has a market cap of $666.0 million and a price-to-earnings ratio of 23.73.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts expect that Marten Transport will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Friday, September 12th.
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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