Marten Transport (NASDAQ:MRTN) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other equities analysts have also commented on MRTN. Stephens initiated coverage on Marten Transport in a report on Monday, July 1st. They set a hold rating for the company. Stifel Nicolaus set a $18.00 price objective on Marten Transport and gave the stock a hold rating in a report on Friday, July 19th. Finally, Zacks Investment Research raised Marten Transport from a sell rating to a hold rating and set a $22.00 price objective for the company in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $20.67.

NASDAQ:MRTN opened at $21.66 on Friday. The firm has a market capitalization of $1.21 billion, a PE ratio of 21.66 and a beta of 1.51. The stock has a 50 day moving average of $19.64 and a 200-day moving average of $18.85. Marten Transport has a 52 week low of $15.39 and a 52 week high of $22.37.

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

The firm also recently disclosed a None dividend, which will be paid on Monday, September 30th. Investors of record on Monday, August 26th will be issued a $0.68 dividend. The ex-dividend date is Friday, August 23rd. Marten Transport’s dividend payout ratio (DPR) is 12.00%.

Hedge funds have recently modified their holdings of the stock. Sawtooth Solutions LLC grew its holdings in Marten Transport by 53.2% in the 2nd quarter. Sawtooth Solutions LLC now owns 22,352 shares of the transportation company’s stock worth $406,000 after buying an additional 7,766 shares in the last quarter. First Trust Advisors LP grew its holdings in Marten Transport by 98.4% in the 2nd quarter. First Trust Advisors LP now owns 136,213 shares of the transportation company’s stock worth $2,472,000 after buying an additional 67,541 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Marten Transport by 25.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,910 shares of the transportation company’s stock worth $361,000 after buying an additional 3,980 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Marten Transport by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,563,975 shares of the transportation company’s stock worth $73,891,000 after buying an additional 42,170 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Marten Transport in the 2nd quarter worth approximately $388,000. 69.23% of the stock is owned by institutional investors and hedge funds.

About Marten Transport

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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