Marten Transport (NASDAQ:MRTN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Marten Transport, Ltd. (NASDAQ:MRTN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.14 and traded as high as $17.64. Marten Transport shares last traded at $17.46, with a volume of 647,660 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRTN. Stephens lowered shares of Marten Transport from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marten Transport in a research note on Tuesday. Zacks Research upgraded 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 report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Marten Transport Stock Up 0.1%

The company has a market capitalization of $1.42 billion, a PE ratio of 91.90 and a beta of 0.93. The business’s 50 day simple moving average is $16.55 and its 200 day simple moving average is $14.14.

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

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 16th. Marten Transport’s dividend payout ratio (DPR) is 126.32%.

Institutional Investors Weigh In On Marten Transport

Several hedge funds have recently bought and sold shares of MRTN. Boston Partners acquired a new stake in shares of Marten Transport during the fourth quarter worth approximately $10,466,000. Russell Investments Group Ltd. lifted its position in Marten Transport by 128.7% in the 4th quarter. Russell Investments Group Ltd. now owns 924,406 shares of the transportation company’s stock worth $10,520,000 after buying an additional 520,274 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Marten Transport by 128.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 921,818 shares of the transportation company’s stock worth $9,827,000 after buying an additional 518,280 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Marten Transport by 2,296.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 444,309 shares of the transportation company’s stock valued at $4,736,000 after buying an additional 425,767 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Marten Transport by 914.7% during the 4th quarter. Verition Fund Management LLC now owns 336,522 shares of the transportation company’s stock valued at $3,830,000 after buying an additional 303,357 shares during the period. 69.12% of the stock is owned by hedge funds and other institutional investors.

About Marten Transport

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.