Marten Transport (NASDAQ:MRTN – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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 equities research analysts have also recently issued reports on the stock. Stephens raised their price objective on shares of Marten Transport from $21.00 to $22.00 in a research report on Friday, April 1st. StockNews.com began coverage on shares of Marten Transport in a research report on Thursday, March 31st. They set a “buy” rating for the company.
Marten Transport stock opened at $16.50 on Wednesday. Marten Transport has a 12-month low of $14.72 and a 12-month high of $19.94. The firm has a market capitalization of $1.37 billion, a PE ratio of 15.87 and a beta of 0.86. The stock’s 50-day moving average price is $17.78.
Marten Transport (NASDAQ:MRTN – Get Rating) last released its quarterly earnings data on Tuesday, January 25th. The transportation company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Marten Transport had a net margin of 8.77% and a return on equity of 13.29%. The firm had revenue of $266.88 million during the quarter, compared to analysts’ expectations of $263.20 million. During the same period last year, the business earned $0.24 earnings per share. Marten Transport’s revenue was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that Marten Transport will post 1.18 EPS for the current year.
In other news, Director Robert L. Demorest sold 10,313 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $16.96, for a total value of $174,908.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James J. Hinnendael sold 6,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $18.38, for a total transaction of $116,713.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,324 shares of company stock valued at $526,179. Company insiders own 22.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Marten Transport in the fourth quarter valued at approximately $3,691,000. Barclays PLC lifted its stake in Marten Transport by 17.5% in the fourth quarter. Barclays PLC now owns 172,769 shares of the transportation company’s stock worth $2,965,000 after acquiring an additional 25,736 shares during the last quarter. BlackRock Inc. lifted its stake in Marten Transport by 3.8% in the fourth quarter. BlackRock Inc. now owns 10,519,174 shares of the transportation company’s stock worth $180,509,000 after acquiring an additional 389,287 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Marten Transport by 57.4% in the fourth quarter. Wells Fargo & Company MN now owns 110,529 shares of the transportation company’s stock worth $1,896,000 after acquiring an additional 40,310 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Marten Transport by 11.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the transportation company’s stock worth $35,808,000 after acquiring an additional 213,833 shares during the last quarter. 68.64% 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.