Marten Transport, Ltd. (MRTN) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Marten Transport, Ltd. (NASDAQ:MRTN) from a hold rating to a buy rating in a research report report published on Tuesday. The firm currently has $23.00 price objective on the transportation company’s stock.
According to Zacks, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation. Protective service transportation means temperature controlled or insulated carriage of temperature-sensitive materials and general commodities. “
Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Marten Transport from a hold rating to a buy rating in a report on Tuesday, July 11th. Stifel Nicolaus set a $15.00 price objective on shares of Marten Transport and gave the stock a hold rating in a report on Wednesday, August 23rd. Finally, BidaskClub raised shares of Marten Transport from a sell rating to a hold rating in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $19.00.
Marten Transport (NASDAQ:MRTN) opened at 19.60 on Tuesday. Marten Transport has a one year low of $11.22 and a one year high of $21.15. The company’s 50-day moving average is $18.16 and its 200 day moving average is $16.03. The firm has a market cap of $1.07 billion, a PE ratio of 31.51 and a beta of 1.32.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $171.51 million for the quarter, compared to the consensus estimate of $176.08 million. Marten Transport had a net margin of 4.96% and a return on equity of 7.72%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. Equities analysts anticipate that Marten Transport will post $0.63 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Marten Transport’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, September 14th. Marten Transport’s payout ratio is presently 15.97%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Marten Transport by 14.7% during the 1st quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after purchasing an additional 235,974 shares during the period. Vanguard Group Inc. raised its stake in shares of Marten Transport by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock worth $34,563,000 after purchasing an additional 28,574 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Marten Transport by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock worth $33,782,000 after purchasing an additional 84,766 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Marten Transport by 46.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock worth $26,856,000 after purchasing an additional 309,413 shares during the period. Finally, Granite Investment Partners LLC raised its stake in shares of Marten Transport by 71.2% during the 2nd quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock worth $13,085,000 after purchasing an additional 331,098 shares during the period. Institutional investors own 42.36% of the company’s stock.
Marten Transport Company Profile
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on 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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