Stifel Nicolaus Reaffirms Hold Rating for Marten Transport, Ltd. (MRTN)
Stifel Nicolaus reissued their hold rating on shares of Marten Transport, Ltd. (NASDAQ:MRTN) in a research note published on Sunday. Stifel Nicolaus currently has a $15.00 price objective on the transportation company’s stock.
MRTN has been the subject of several other reports. Zacks Investment Research lowered shares of Marten Transport from a buy rating to a hold rating in a report on Wednesday, September 6th. BidaskClub downgraded shares of Marten Transport from a hold rating to a sell rating in a research note on Friday, August 25th. Finally, ValuEngine upgraded Marten Transport from a hold rating to a buy rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $19.00.
Shares of Marten Transport (MRTN) opened at 19.95 on Friday. Marten Transport has a 52-week low of $11.22 and a 52-week high of $21.15. The company’s 50-day moving average is $17.84 and its 200 day moving average is $15.94. The firm has a market capitalization of $1.09 billion, a P/E ratio of 32.07 and a beta of 1.32.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $171.51 million for the quarter, compared to analysts’ expectations of $176.08 million. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. Analysts expect that Marten Transport will post $0.63 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.025 per share. 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. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. Marten Transport’s dividend payout ratio (DPR) is presently 15.97%.
Several institutional investors have recently made changes to their positions in MRTN. Wellington Management Group LLP boosted its position in shares of Marten Transport by 14.7% during the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock worth $43,177,000 after acquiring an additional 235,974 shares during the last quarter. Vanguard Group Inc. lifted its position in Marten Transport by 2.3% during the second quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock valued at $34,563,000 after purchasing an additional 28,574 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Marten Transport by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock valued at $33,782,000 after purchasing an additional 84,766 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Marten Transport by 46.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock worth $26,856,000 after buying an additional 309,413 shares in the last quarter. Finally, Granite Investment Partners LLC grew its stake in shares of Marten Transport by 71.2% in the 2nd quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock worth $13,085,000 after buying an additional 331,098 shares in the last quarter. Institutional investors and hedge funds 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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