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 report issued 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 equities analysts have also issued reports about the company. ValuEngine upgraded Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price target on shares of Marten Transport in a research note on Sunday. Finally, BidaskClub downgraded Marten Transport from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Marten Transport has an average rating of “Hold” and an average price target of $19.00.
Shares of Marten Transport (MRTN) opened at 19.95 on Wednesday. Marten Transport has a one year low of $11.22 and a one year high of $21.15. The stock has a market capitalization of $1.09 billion, a P/E ratio of 32.07 and a beta of 1.32. The company’s 50 day moving average price is $17.84 and its 200 day moving average price is $15.94.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $171.51 million during the quarter, compared to analysts’ expectations of $176.08 million. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. Marten Transport’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. On average, equities analysts expect that Marten Transport will post $0.63 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of MRTN. Wellington Management Group LLP boosted its holdings in shares of Marten Transport by 14.7% during the 1st quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after buying an additional 235,974 shares during the period. BlackRock Fund Advisors raised its holdings in Marten Transport by 7.4% in the 3rd quarter. BlackRock Fund Advisors now owns 1,614,413 shares of the transportation company’s stock worth $33,903,000 after acquiring an additional 111,569 shares during the period. Vanguard Group Inc. raised its holdings in Marten Transport by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock worth $34,563,000 after acquiring an additional 28,574 shares during the period. Bank of New York Mellon Corp raised its holdings in Marten Transport by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock worth $33,782,000 after acquiring an additional 84,766 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Marten Transport by 46.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock worth $26,856,000 after acquiring an additional 309,413 shares during the period. Institutional investors and hedge funds 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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