Marten Transport, Ltd. (MRTN) Cut 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 research note issued to investors on Thursday.
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. “
Several other analysts have also issued reports on MRTN. ValuEngine upgraded shares of Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus set a $15.00 price target on shares of Marten Transport and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.50.
Shares of Marten Transport (NASDAQ MRTN) traded up 0.53% on Thursday, hitting $18.90. The stock had a trading volume of 84,920 shares. Marten Transport has a 12-month low of $11.22 and a 12-month high of $19.05. The company has a 50 day moving average of $16.93 and a 200-day moving average of $15.57. The firm has a market capitalization of $1.03 billion, a P/E ratio of 30.39 and a beta of 1.27.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $171.51 million for the quarter, compared to analyst estimates of $176.08 million. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Equities analysts predict that Marten Transport will post $0.63 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of MRTN. Bank of Montreal Can boosted its position in 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in 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 in the last quarter. SG Americas Securities LLC acquired a new stake in Marten Transport in the second quarter valued at approximately $116,000. State of Alaska Department of Revenue boosted its position in 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 in the last quarter. Finally, Mason Street Advisors LLC boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.
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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