Marten Transport (NASDAQ:MRTN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.89 and traded as high as $17.31. Marten Transport shares last traded at $16.8650, with a volume of 2,200,635 shares trading hands.

Analysts Set New Price Targets

MRTN has been the subject of several recent analyst reports. Stephens lowered Marten Transport from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings upgraded Marten Transport from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, April 2nd. Zacks Research raised Marten Transport from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Robert W. Baird upgraded Marten Transport to a “strong-buy” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Marten Transport Price Performance

The firm has a market capitalization of $1.38 billion, a PE ratio of 88.77 and a beta of 0.93. The company’s fifty day simple moving average is $16.19 and its 200-day simple moving average is $13.89.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, April 23rd. The transportation company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $203.53 million for the quarter, compared to analysts’ expectations of $207.20 million. Marten Transport had a return on equity of 1.89% and a net margin of 1.68%.The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Analysts forecast that Marten Transport, Ltd. will post 0.22 earnings per share for the current year.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Marten Transport’s dividend payout ratio (DPR) is presently 126.32%.

Institutional Investors Weigh In On Marten Transport

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC lifted its stake in shares of Marten Transport by 2,083.8% in the 4th quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 2,438 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Marten Transport by 660.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company’s stock worth $33,000 after purchasing an additional 2,544 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Marten Transport in the 3rd quarter valued at about $40,000. Farther Finance Advisors LLC raised its holdings in Marten Transport by 3,553.8% in the 4th quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company’s stock valued at $44,000 after buying an additional 3,767 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Marten Transport by 131.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,816 shares of the transportation company’s stock valued at $62,000 after buying an additional 3,302 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.