Marten Transport (MRTN) Downgraded to “Hold” at BidaskClub

Marten Transport (NASDAQ:MRTN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Marten Transport in a report on Sunday, October 1st.

Marten Transport (NASDAQ MRTN) remained flat at $$20.60 during mid-day trading on Friday. 208,352 shares of the company’s stock traded hands, compared to its average volume of 200,898. The firm has a market capitalization of $1,123.15, a PE ratio of 33.77 and a beta of 1.34. Marten Transport has a fifty-two week low of $12.81 and a fifty-two week high of $21.15.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $170.70 million for the quarter, compared to the consensus estimate of $169.67 million. Marten Transport had a net margin of 4.87% and a return on equity of 7.45%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. equities analysts anticipate that Marten Transport will post 0.62 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MRTN. Dimensional Fund Advisors LP boosted its holdings in Marten Transport by 64.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,613,274 shares of the transportation company’s stock worth $94,798,000 after buying an additional 1,814,763 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Marten Transport by 38.7% during the third quarter. Bank of New York Mellon Corp now owns 1,709,997 shares of the transportation company’s stock worth $35,140,000 after buying an additional 477,099 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Marten Transport by 46.1% during the second quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock worth $26,856,000 after buying an additional 309,413 shares in the last quarter. FMR LLC boosted its holdings in Marten Transport by 228.5% during the second quarter. FMR LLC now owns 443,408 shares of the transportation company’s stock worth $12,149,000 after buying an additional 308,408 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Marten Transport by 72.7% during the third quarter. Nationwide Fund Advisors now owns 583,228 shares of the transportation company’s stock worth $11,985,000 after buying an additional 245,604 shares in the last quarter. 68.40% of the stock is currently owned by hedge funds and other institutional investors.

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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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