Marten Transport (NASDAQ:MRTN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Marten Transport (NASDAQ:MRTN) from a sell rating to a hold rating in a research report sent to investors on Friday morning, 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. “

Several other brokerages have also weighed in on MRTN. Stifel Nicolaus set a $18.00 target price on Marten Transport and gave the stock a hold rating in a research report on Friday, July 19th. Stephens began coverage on Marten Transport in a research report on Monday, July 1st. They set a hold rating on the stock. Finally, BidaskClub raised Marten Transport from a sell rating to a hold rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and a consensus target price of $20.33.

Shares of NASDAQ MRTN opened at $19.40 on Friday. Marten Transport has a fifty-two week low of $15.39 and a fifty-two week high of $23.45. The firm has a market capitalization of $1.02 billion, a PE ratio of 19.40 and a beta of 1.49. The stock’s 50-day simple moving average is $19.07 and its 200-day simple moving average is $18.73.

Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, July 18th. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Marten Transport had a return on equity of 10.25% and a net margin of 7.33%. The business had revenue of $212.10 million for the quarter, compared to analyst estimates of $208.45 million. During the same quarter last year, the company earned $0.25 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Marten Transport will post 1.12 earnings per share for the current year.

The company also recently declared a None dividend, which will be paid on Monday, September 30th. Investors of record on Monday, August 26th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, August 23rd. Marten Transport’s dividend payout ratio is presently 12.00%.

A number of large investors have recently added to or reduced their stakes in MRTN. Princeton Global Asset Management LLC purchased a new position in Marten Transport during the 1st quarter worth approximately $35,000. Quantamental Technologies LLC grew its stake in Marten Transport by 2,408.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,311 shares of the transportation company’s stock worth $59,000 after buying an additional 3,179 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Marten Transport by 421.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,199 shares of the transportation company’s stock worth $146,000 after buying an additional 6,628 shares during the last quarter. Algert Global LLC purchased a new position in Marten Transport during the 1st quarter worth approximately $183,000. Finally, M&T Bank Corp purchased a new position in Marten Transport during the 2nd quarter worth approximately $193,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Marten Transport Company Profile

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.

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