Marten Transport, Ltd. (MRTN) Raised to Buy at Zacks Investment Research
Marten Transport, Ltd. (NASDAQ:MRTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $23.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.30% from the stock’s previous close.
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 analysts also recently issued reports about the stock. BidaskClub downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus set a $15.00 price objective on shares of Marten Transport and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.00.
Marten Transport (NASDAQ MRTN) opened at 20.30 on Tuesday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 32.64 and a beta of 1.32. The company’s 50-day moving average is $17.74 and its 200-day moving average is $15.90. Marten Transport has a 52-week low of $11.22 and a 52-week high of $21.15.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The company had revenue of $171.51 million for the quarter, compared to analyst estimates of $176.08 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Marten Transport will post $0.63 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its position in Marten Transport by 376.0% in the first quarter. Bank of Montreal Can now owns 4,355 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 3,440 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Marten Transport by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock worth $111,000 after purchasing an additional 108 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Marten Transport in the second quarter worth approximately $116,000. State of Alaska Department of Revenue grew its holdings in shares of Marten Transport by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock worth $125,000 after purchasing an additional 2,020 shares during the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Marten Transport by 7.2% in the first quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock worth $127,000 after purchasing an additional 365 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.
About Marten Transport
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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