Zacks Investment Research downgraded shares of Marten Transport, Ltd. (NASDAQ:MRTN) from a buy rating to a hold rating in a report published on Wednesday morning.

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 have also recently issued research 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. BidaskClub cut shares of Marten Transport from a hold rating to a sell rating in a report on Friday, August 25th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $15.00 price objective on shares of Marten Transport in a report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $19.00.

Shares of Marten Transport (MRTN) opened at 19.60 on Wednesday. Marten Transport has a one year low of $11.22 and a one year high of $21.15. The firm has a market cap of $1.07 billion, a P/E ratio of 31.51 and a beta of 1.32. The stock’s 50 day moving average is $18.16 and its 200-day moving average is $16.03.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Thursday, July 20th. The transportation company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $171.51 million during 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Analysts anticipate that Marten Transport will post $0.63 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.025 dividend. This is a positive change from Marten Transport’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, September 14th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. Marten Transport’s dividend payout ratio (DPR) is currently 15.97%.

Several large investors have recently added to or reduced their stakes in MRTN. SG Americas Securities LLC acquired a new stake in shares of Marten Transport in the second quarter worth $116,000. Bank of Montreal Can boosted its stake in Marten Transport by 376.0% during the first quarter. Bank of Montreal Can now owns 4,355 shares of the transportation company’s stock worth $101,000 after buying an additional 3,440 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Marten Transport by 78.9% during the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock worth $125,000 after buying an additional 2,020 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Marten Transport by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock worth $111,000 after buying an additional 108 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Marten Transport by 7.2% during the first quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock worth $127,000 after buying an additional 365 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors.

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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