Marten Transport, Ltd. (MRTN) Rating Increased to Hold at Stifel Nicolaus
Marten Transport, Ltd. (NASDAQ:MRTN) was upgraded by Stifel Nicolaus from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday. The firm presently has a $23.00 target price on the stock, up from their prior target price of $21.00. Stifel Nicolaus’ price objective points to a potential downside of 4.17% from the company’s current price.
MRTN has been the subject of several other research reports. Zacks Investment Research lowered shares of Marten Transport from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 31st. Seaport Global Securities began coverage on shares of Marten Transport in a research report on Friday, December 16th. They set a “neutral” rating for the company.
Shares of Marten Transport (NASDAQ:MRTN) traded up 0.42% during trading on Friday, hitting $24.00. 88,214 shares of the stock traded hands. The company has a market cap of $783.22 million, a P/E ratio of 23.53 and a beta of 1.15. The stock has a 50-day moving average of $23.17 and a 200 day moving average of $22.34. Marten Transport has a 1-year low of $16.06 and a 1-year high of $27.05.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The company earned $172.66 million during the quarter, compared to analyst estimates of $168.37 million. Marten Transport had a net margin of 4.99% and a return on equity of 7.89%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities research analysts predict that Marten Transport will post $1.02 EPS for the current fiscal year.
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In related news, insider John H. Turner sold 1,250 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $25.00, for a total transaction of $31,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Martingale Asset Management L P acquired a new position in shares of Marten Transport during the fourth quarter worth $3,154,000. FMR LLC acquired a new position in shares of Marten Transport during the fourth quarter worth $2,980,000. BlackRock Fund Advisors raised its position in shares of Marten Transport by 7.4% in the third quarter. BlackRock Fund Advisors now owns 1,614,413 shares of the company’s stock worth $33,903,000 after buying an additional 111,569 shares in the last quarter. Henderson Group PLC raised its position in shares of Marten Transport by 13.9% in the third quarter. Henderson Group PLC now owns 746,164 shares of the company’s stock worth $15,669,000 after buying an additional 90,787 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Marten Transport during the fourth quarter worth $2,053,000. Hedge funds and other institutional investors own 67.74% of the company’s stock.
About Marten Transport
Marten Transport, Ltd. is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Company specializes in 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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