Marten Transport (MRTN) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a buy rating in a report published on Saturday morning. Zacks Investment Research currently has $24.00 target price 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 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. “
Several other research analysts also recently commented on MRTN. BidaskClub raised shares of Marten Transport from a hold rating to a buy rating in a report on Tuesday, January 16th. Stephens reissued a buy rating and issued a $25.00 price target on shares of Marten Transport in a report on Wednesday, January 10th. Finally, Stifel Nicolaus reissued a hold rating and issued a $15.00 price target on shares of Marten Transport in a report on Sunday, October 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $21.33.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Marten Transport had a net margin of 4.87% and a return on equity of 7.45%. The firm had revenue of $170.70 million during the quarter, compared to the consensus estimate of $169.67 million. During the same period last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. equities research analysts predict that Marten Transport will post 0.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, December 21st. Marten Transport’s dividend payout ratio is currently 16.39%.
Several hedge funds and other institutional investors have recently bought and sold shares of MRTN. Dimensional Fund Advisors LP lifted its holdings in shares of Marten Transport by 64.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,613,274 shares of the transportation company’s stock worth $94,798,000 after acquiring an additional 1,814,763 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marten Transport by 38.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,709,997 shares of the transportation company’s stock worth $35,140,000 after acquiring an additional 477,099 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 309,413 shares during the last quarter. FMR LLC lifted its holdings in shares of Marten Transport by 228.5% during the 2nd quarter. FMR LLC now owns 443,408 shares of the transportation company’s stock worth $12,149,000 after acquiring an additional 308,408 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Marten Transport by 72.7% during the 3rd quarter. Nationwide Fund Advisors now owns 583,228 shares of the transportation company’s stock worth $11,985,000 after acquiring an additional 245,604 shares during the last quarter. 68.40% of the stock is owned by institutional investors.
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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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