Marten Transport (NASDAQ:MRTN) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks reports.

A number of other equities analysts also recently weighed in on the stock. Stephens dropped their price target on shares of Marten Transport from $15.00 to $12.50 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Marten Transport in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Marten Transport Stock Performance

Shares of MRTN opened at $11.78 on Thursday. The company’s 50 day moving average price is $13.55 and its 200 day moving average price is $15.22. Marten Transport has a 52 week low of $9.35 and a 52 week high of $18.48. The company has a market capitalization of $961.95 million, a PE ratio of 65.45 and a beta of 1.00.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, October 22nd. The transportation company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $223.23 million during the quarter, compared to analysts’ expectations of $230.37 million. Marten Transport had a return on equity of 1.74% and a net margin of 1.55%. During the same quarter in the previous year, the company earned $0.03 EPS. On average, equities analysts forecast that Marten Transport will post 0.24 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a $0.06 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 2.0%. Marten Transport’s dividend payout ratio is currently 141.18%.

Hedge Funds Weigh In On Marten Transport

Several hedge funds have recently bought and sold shares of MRTN. Hsbc Holdings PLC boosted its position in Marten Transport by 2.4% during the first quarter. Hsbc Holdings PLC now owns 79,083 shares of the transportation company’s stock worth $1,026,000 after purchasing an additional 1,874 shares during the period. Fortitude Family Office LLC grew its holdings in Marten Transport by 1,661.7% during the third quarter. Fortitude Family Office LLC now owns 2,114 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 1,994 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Marten Transport during the second quarter valued at approximately $36,000. PNC Financial Services Group Inc. grew its holdings in Marten Transport by 27.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,572 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 2,499 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Marten Transport in the second quarter valued at approximately $45,000. 69.12% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Marten Transport

Here are the key news stories impacting Marten Transport this week:

• Positive Sentiment: Third-quarter net income increased 30.7% year over year to $2.9 million, or $0.04 per diluted share. Operating income rose 11.9% to $3.1 million, while operating expenses improved slightly to 98.6% of revenue from 98.8% a year earlier. Marten Transport Announces Third Quarter Results
• Positive Sentiment: Freight trends showed some improvement: truckload revenue climbed 11.9% to $117.3 million, fuel-surcharge revenue rose to $39.0 million from $26.5 million, and dedicated and brokerage operations generated $67.2 million and $38.7 million, respectively. Marten Transport Q3 Net Income Rises 31% to $2.9 Million
• Neutral Sentiment: Marten Transport held $91.5 million in cash at September 30, providing financial flexibility, although nine-month net income declined to $9.6 million from $13.7 million and revenue fell to $650.3 million from $673.5 million. Marten Transport Q3 Net Income Rises 31% to $2.9 Million
• Negative Sentiment: Quarterly EPS of $0.04 missed the $0.06 consensus estimate, while revenue of $223.2 million fell short of the $230.4 million forecast. The results indicate that costs continue to limit the benefit of recovering freight rates. Marten Transport Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: Stephens lowered its price target from $15.00 to $12.50 and maintained an “equal weight” rating, signaling limited near-term upside. Zacks also added MRTN to its Rank #5 “Strong Sell” list. Stephens Stock Recommendations

Marten Transport Company Profile

Marten Transport, Inc is a transportation and logistics company headquartered in Mondovi, Wisconsin. Founded in 1946, the company began as a regional carrier and has developed into a provider of temperature-sensitive and dry freight transportation services.

The company’s operations include refrigerated and dry truck-based transportation, dedicated transportation, intermodal services, and brokerage. Marten Transport serves customers across a range of industries, including food and consumer products, using refrigerated trailers, dry vans, intermodal equipment, and related logistics capabilities.

Marten Transport primarily serves the contiguous United States and also provides transportation services involving Canada and Mexico.