Marten Transport, Ltd. (MRTN) Rating Increased to Hold at BidaskClub
Marten Transport, Ltd. (NASDAQ:MRTN) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, July 25th. ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus upped their price objective on shares of Marten Transport from $13.20 to $15.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.00.
Marten Transport (MRTN) traded down 0.61% on Wednesday, reaching $16.20. 86,402 shares of the company’s stock were exchanged. The company has a market cap of $883.09 million, a P/E ratio of 26.05 and a beta of 1.27. Marten Transport has a 12-month low of $11.22 and a 12-month high of $17.90. The firm has a 50 day moving average of $16.28 and a 200-day moving average of $15.05.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The company had revenue of $171.51 million for the quarter, compared to the consensus estimate of $176.08 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Marten Transport will post $0.63 EPS for the current fiscal year.
WARNING: “Marten Transport, Ltd. (MRTN) Rating Increased to Hold at BidaskClub” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/08/16/marten-transport-ltd-mrtn-rating-increased-to-hold-at-bidaskclub.html.
In related news, Chairman Randolph L. Marten sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $25.51, for a total transaction of $1,275,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John H. Turner sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $25.59, for a total transaction of $102,360.00. The disclosure for this sale can be found here. Corporate insiders own 23.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in MRTN. Bank of Montreal Can increased its position in shares of Marten Transport by 376.0% in the first quarter. Bank of Montreal Can now owns 4,355 shares of the transportation company’s stock valued at $101,000 after buying an additional 3,440 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Marten Transport by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock valued at $111,000 after buying an additional 108 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Marten Transport during the second quarter valued at about $116,000. State of Alaska Department of Revenue increased its position in shares of Marten Transport by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock valued at $125,000 after buying an additional 2,020 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Marten Transport by 7.2% in the first quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock valued at $127,000 after buying an additional 365 shares during the last quarter. 41.47% of the stock is currently owned by institutional investors and hedge funds.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
Receive News & Ratings for Marten Transport Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marten Transport Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.