Marten Transport, Ltd. (MRTN) Lowered to Hold at Zacks Investment Research
Marten Transport, Ltd. (NASDAQ:MRTN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation. Protective service transportation means temperature controlled or insulated carriage of temperature-sensitive materials and general commodities. “
Other analysts have also recently issued research reports about the company. ValuEngine raised Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. BidaskClub upgraded Marten Transport from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Stifel Nicolaus set a $15.00 price objective on Marten Transport and gave the company a “hold” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.50.
Marten Transport (MRTN) traded up 1.10% during midday trading on Wednesday, hitting $18.40. The stock had a trading volume of 183,033 shares. Marten Transport has a 1-year low of $11.22 and a 1-year high of $18.55. The stock’s 50-day moving average is $16.47 and its 200-day moving average is $15.37. The stock has a market capitalization of $1.00 billion, a PE ratio of 29.58 and a beta of 1.27.
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 analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $171.51 million during the quarter, compared to the consensus estimate of $176.08 million. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities research analysts anticipate that Marten Transport will post $0.63 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Marten Transport in the 1st quarter worth $1,107,000. Wellington Management Group LLP lifted its position in Marten Transport by 14.7% during the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock valued at $43,177,000 after purchasing an additional 235,974 shares in the last quarter. Royce & Associates LP lifted its position in Marten Transport by 20.5% during the second quarter. Royce & Associates LP now owns 153,125 shares of the transportation company’s stock valued at $4,196,000 after purchasing an additional 26,100 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Marten Transport by 22.9% during the first quarter. Ameriprise Financial Inc. now owns 146,835 shares of the transportation company’s stock valued at $3,443,000 after purchasing an additional 27,375 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Marten Transport by 24.8% during the first quarter. Wells Fargo & Company MN now owns 23,707 shares of the transportation company’s stock valued at $556,000 after purchasing an additional 4,710 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.
Marten Transport Company Profile
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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