Marten Transport, Ltd (NASDAQ:MRTN) – KeyCorp raised their Q2 2020 earnings per share (EPS) estimates for Marten Transport in a research note issued on Monday, July 6th. KeyCorp analyst T. Fowler now expects that the transportation company will earn $0.24 per share for the quarter, up from their previous estimate of $0.22. KeyCorp currently has a “Overweight” rating and a $29.00 target price on the stock. KeyCorp also issued estimates for Marten Transport’s Q3 2020 earnings at $0.25 EPS, Q4 2020 earnings at $0.27 EPS, FY2020 earnings at $1.00 EPS and FY2021 earnings at $1.15 EPS.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 16th. The transportation company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $218.60 million during the quarter, compared to analyst estimates of $207.55 million. Marten Transport had a net margin of 7.10% and a return on equity of 10.24%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

Several other research firms have also commented on MRTN. Stephens upgraded shares of Marten Transport from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Monday, April 6th. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday. BidaskClub downgraded shares of Marten Transport from a “buy” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Loop Capital raised shares of Marten Transport from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $27.00 in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Marten Transport has an average rating of “Buy” and a consensus price target of $25.00.

Marten Transport stock opened at $25.75 on Thursday. The company has a 50-day simple moving average of $24.85 and a 200-day simple moving average of $22.22. The firm has a market capitalization of $1.44 billion, a P/E ratio of 22.99 and a beta of 0.99. Marten Transport has a one year low of $16.01 and a one year high of $26.97.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its position in Marten Transport by 292.2% during the 4th quarter. Bank of Montreal Can now owns 64,812 shares of the transportation company’s stock worth $1,393,000 after purchasing an additional 48,286 shares in the last quarter. Wellington Management Group LLP grew its position in Marten Transport by 15.8% during the 1st quarter. Wellington Management Group LLP now owns 1,078,607 shares of the transportation company’s stock worth $22,133,000 after purchasing an additional 147,263 shares in the last quarter. Morgan Stanley grew its position in Marten Transport by 133.7% during the 1st quarter. Morgan Stanley now owns 486,239 shares of the transportation company’s stock worth $9,976,000 after purchasing an additional 278,141 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Marten Transport by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 32,542 shares of the transportation company’s stock worth $668,000 after purchasing an additional 1,624 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Marten Transport by 16.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 519,046 shares of the transportation company’s stock worth $11,155,000 after purchasing an additional 71,772 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

In other Marten Transport news, CEO Randolph L. Marten sold 14,625 shares of Marten Transport stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $23.06, for a total transaction of $337,252.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Timothy M. Kohl sold 25,414 shares of Marten Transport stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $22.94, for a total transaction of $582,997.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,879 shares of company stock valued at $2,811,315. Corporate insiders own 22.80% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 15th. Marten Transport’s dividend payout ratio is presently 14.41%.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.

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