Marten Transport (NASDAQ:MRTN) Stock Rating Lowered by Zacks Investment Research

Marten Transport (NASDAQ:MRTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, 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. “

Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Marten Transport from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Stifel Nicolaus set a $18.00 target price on shares of Marten Transport and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Stephens initiated coverage on shares of Marten Transport in a research report on Monday, July 1st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Marten Transport has an average rating of “Hold” and an average price target of $20.67.

MRTN opened at $21.21 on Thursday. The company has a 50-day moving average of $20.35 and a 200-day moving average of $19.20. The company has a market capitalization of $1.16 billion, a P/E ratio of 21.21 and a beta of 1.49. Marten Transport has a 1-year low of $15.39 and a 1-year high of $22.37.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, July 18th. The transportation company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $212.10 million during the quarter, compared to the consensus estimate of $208.45 million. Marten Transport had a net margin of 7.33% and a return on equity of 10.25%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that Marten Transport will post 1.11 earnings per share for the current year.

Several large investors have recently made changes to their positions in MRTN. Nuveen Asset Management LLC bought a new stake in shares of Marten Transport during the 2nd quarter valued at about $10,055,000. FMR LLC grew its position in shares of Marten Transport by 149.8% during the 1st quarter. FMR LLC now owns 917,248 shares of the transportation company’s stock valued at $16,354,000 after buying an additional 550,088 shares during the last quarter. BlackRock Inc. grew its position in shares of Marten Transport by 2.1% during the 2nd quarter. BlackRock Inc. now owns 6,192,428 shares of the transportation company’s stock valued at $112,393,000 after buying an additional 126,004 shares during the last quarter. Granite Investment Partners LLC grew its position in shares of Marten Transport by 12.0% during the 2nd quarter. Granite Investment Partners LLC now owns 944,158 shares of the transportation company’s stock valued at $17,136,000 after buying an additional 101,302 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Marten Transport by 4.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,318,002 shares of the transportation company’s stock valued at $42,072,000 after buying an additional 97,978 shares during the last quarter. 69.24% 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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