ValuEngine Upgrades Marten Transport (MRTN) to “Buy”

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.

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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.

Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Marten Transport had a return on equity of 7.17% and a net margin of 12.93%. The firm had revenue of $182.70 million for the quarter, compared to analyst estimates of $177.55 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts predict that Marten Transport will post 0.92 EPS for the current fiscal year.

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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