Marten Transport (NASDAQ:MRTN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Several other brokerages have also weighed in on MRTN. BidaskClub raised Marten Transport from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday. Seaport Global Securities raised Marten Transport from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, January 26th. Finally, Stephens reaffirmed a “buy” rating and issued a $25.00 target price on shares of Marten Transport in a research report on Wednesday, January 10th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.25.
Shares of Marten Transport stock opened at $23.05 on Thursday. Marten Transport has a 52-week low of $12.99 and a 52-week high of $29.60. The firm has a market capitalization of $1,295.94, a price-to-earnings ratio of 14.05 and a beta of 1.40.
In other news, Director Larry B. Hagness sold 12,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.39, for a total transaction of $280,680.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Winkel sold 6,250 shares of Marten Transport stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $22.55, for a total value of $140,937.50. The disclosure for this sale can be found here. 23.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MRTN. Sei Investments Co. grew its holdings in Marten Transport by 109.8% during the third quarter. Sei Investments Co. now owns 6,198 shares of the transportation company’s stock worth $127,000 after acquiring an additional 3,244 shares during the period. Bogle Investment Management L P DE acquired a new position in Marten Transport during the fourth quarter worth about $220,000. First Republic Investment Management Inc. acquired a new position in Marten Transport during the third quarter worth about $229,000. First Allied Advisory Services Inc. acquired a new position in Marten Transport during the third quarter worth about $237,000. Finally, Teacher Retirement System of Texas acquired a new position in Marten Transport during the fourth quarter worth about $284,000. 67.58% of the stock is currently owned by hedge funds and other institutional investors.
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About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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