Marten Transport, Ltd. (MRTN) Upgraded to “Buy” at Zacks Investment Research
Marten Transport, Ltd. (NASDAQ:MRTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $20.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.70% from the company’s previous close.
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 equities research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Marten Transport from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus set a $15.00 price objective on shares of Marten Transport and gave the company a “hold” rating in a report on Wednesday, August 23rd. Finally, ValuEngine upgraded shares of Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.
Shares of Marten Transport (MRTN) traded up 1.10% during mid-day trading on Thursday, reaching $18.40. The company had a trading volume of 183,033 shares. The firm’s 50-day moving average price is $16.47 and its 200 day moving average price is $15.37. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 29.58 and a beta of 1.27. Marten Transport has a 52-week low of $11.22 and a 52-week high of $18.55.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 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 analyst estimates of $176.08 million. During the same quarter last year, the business earned $0.26 earnings per share. Marten Transport’s revenue 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 year.
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Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings 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 acquiring an additional 3,440 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 108 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Marten Transport in the second quarter valued at approximately $116,000. State of Alaska Department of Revenue boosted its holdings 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 acquiring an additional 2,020 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings 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 acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.
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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