Zacks Investment Research Lowers Marten Transport (NASDAQ:MRTN) to Hold

Marten Transport (NASDAQ:MRTN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation in the United States. The company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten operates through these featured services – Truckload, Dedicated, Intermodal and Brokerage. Marten Transport offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN and is headquartered in Mondovi, Wisconsin. “

Separately, Vertical Research started coverage on Marten Transport in a research report on Thursday, April 1st. They issued a “buy” rating and a $22.00 price objective for the company.

Shares of MRTN opened at $17.67 on Thursday. Marten Transport has a 1 year low of $15.13 and a 1 year high of $20.13. The stock has a market capitalization of $1.46 billion, a P/E ratio of 22.09 and a beta of 1.06. The company’s fifty day moving average is $17.26 and its two-hundred day moving average is $17.13.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Wednesday, April 14th. The transportation company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Marten Transport had a net margin of 7.60% and a return on equity of 10.58%. The firm had revenue of $223.05 million during the quarter, compared to the consensus estimate of $224.05 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Marten Transport will post 0.82 EPS for the current fiscal year.

In other Marten Transport news, Director Thomas J. Winkel sold 6,000 shares of the company’s stock in a transaction on Thursday, March 18th. The stock was sold at an average price of $16.77, for a total value of $100,620.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in shares of Marten Transport by 149.8% during the 1st quarter. FMR LLC now owns 917,248 shares of the transportation company’s stock worth $16,354,000 after purchasing an additional 550,088 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Marten Transport by 164.4% in the first quarter. First Trust Advisors LP now owns 68,672 shares of the transportation company’s stock valued at $1,224,000 after acquiring an additional 42,699 shares in the last quarter. Strs Ohio boosted its stake in shares of Marten Transport by 50.0% during the third quarter. Strs Ohio now owns 42,450 shares of the transportation company’s stock valued at $692,000 after acquiring an additional 14,150 shares during the last quarter. First Hawaiian Bank purchased a new stake in Marten Transport during the 4th quarter worth about $200,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Marten Transport in the 4th quarter valued at about $186,000. 70.16% of the stock is currently owned by institutional investors.

About Marten Transport

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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