Zacks Upgrades Marten Transport to “Neutral” (MRTN)
Marten Transport (NASDAQ:MRTN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday. The firm currently has a $21.30 target price on the stock. Zacks‘s price objective suggests a potential upside of 2.65% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.58.
Shares of Marten Transport (NASDAQ:MRTN) traded up 1.06% on Wednesday, hitting $20.97. 79,077 shares of the company’s stock traded hands. Marten Transport has a 52 week low of $15.98 and a 52 week high of $25.71. The stock has a 50-day moving average of $21.17 and a 200-day moving average of $21.51. The company has a market cap of $700.4 million and a P/E ratio of 24.70.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Tuesday, July 15th. 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. On average, analysts predict that Marten Transport will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. 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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