Marten Transport, Ltd. (MRTN) Lowered to “Sell” at BidaskClub
Marten Transport, Ltd. (NASDAQ:MRTN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other research firms have also recently commented on MRTN. Zacks Investment Research cut Marten Transport from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. ValuEngine raised Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus set a $15.00 price target on Marten Transport and gave the company a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.50.
Shares of Marten Transport (NASDAQ:MRTN) traded up 1.27% during mid-day trading on Friday, reaching $15.90. 124,205 shares of the company’s stock traded hands. The company has a market cap of $866.74 million, a price-to-earnings ratio of 25.56 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 company has a 50 day moving average of $16.17 and a 200 day moving average of $15.13.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $171.51 million during the quarter, compared to analysts’ expectations of $176.08 million. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. Analysts expect that Marten Transport will post $0.63 earnings per share for the current fiscal year.
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In related news, Chairman Randolph L. Marten sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $25.51, for a total value of $1,275,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John H. Turner sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $25.59, for a total value of $102,360.00. The disclosure for this sale can be found here. Corporate insiders own 23.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Marten Transport during the second quarter valued at about $116,000. Bank of Montreal Can raised 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 worth $101,000 after buying an additional 3,440 shares during the period. State of Alaska Department of Revenue raised 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 worth $125,000 after buying an additional 2,020 shares during the period. PNC Financial Services Group Inc. raised 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 worth $111,000 after buying an additional 108 shares during the period. Finally, Mason Street Advisors LLC raised 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 worth $127,000 after buying an additional 365 shares during the period. 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.
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