Marten Transport (NASDAQ:MRTN) Sets New 52-Week High – Still a Buy?

Marten Transport, Ltd. (NASDAQ:MRTN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.12 and last traded at $17.11, with a volume of 601563 shares. The stock had previously closed at $16.69.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MRTN shares. Zacks Research raised Marten Transport from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Robert W. Baird raised Marten Transport to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings raised Marten Transport from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, April 2nd. Stephens cut Marten Transport from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised Marten Transport from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Marten Transport has an average rating of “Moderate Buy”.

Marten Transport Stock Performance

The company has a fifty day moving average price of $14.34 and a 200-day moving average price of $12.79. The firm has a market capitalization of $1.40 billion, a PE ratio of 90.06 and a beta of 0.89.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 23rd. The transportation company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. The company had revenue of $203.53 million for the quarter, compared to analysts’ expectations of $207.20 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts predict that Marten Transport, Ltd. will post 0.22 earnings per share for the current year.

Marten Transport Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, June 16th. Marten Transport’s dividend payout ratio is presently 126.32%.

Institutional Trading of Marten Transport

Several hedge funds and other institutional investors have recently bought and sold shares of MRTN. Global Retirement Partners LLC raised its holdings in Marten Transport by 2,083.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock valued at $29,000 after buying an additional 2,438 shares during the period. Nisa Investment Advisors LLC raised its holdings in Marten Transport by 660.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company’s stock valued at $33,000 after buying an additional 2,544 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Marten Transport during the 3rd quarter valued at $40,000. Atlantic Union Bankshares Corp purchased a new stake in Marten Transport during the 3rd quarter valued at $43,000. Finally, Farther Finance Advisors LLC raised its holdings in Marten Transport by 3,553.8% during the 4th quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company’s stock valued at $44,000 after buying an additional 3,767 shares during the period. Hedge funds and other institutional investors own 69.12% of the company’s stock.

About Marten Transport

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.