Marten Transport (MRTN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Marten Transport (NASDAQ:MRTN) from a buy rating to a hold rating in a research report report published on Thursday morning.

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. “

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A number of other research firms also recently commented on MRTN. BidaskClub downgraded shares of Marten Transport from a strong-buy rating to a buy rating in a report on Wednesday, March 28th. Seaport Global Securities upgraded shares of Marten Transport from a neutral rating to a buy rating and set a $30.00 price target on the stock in a report on Friday, January 26th. Stephens restated a buy rating and set a $25.00 price target on shares of Marten Transport in a report on Wednesday, January 10th. Finally, ValuEngine upgraded shares of Marten Transport from a hold rating to a buy rating in a report on Thursday, March 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $25.25.

NASDAQ MRTN opened at $22.15 on Thursday. Marten Transport has a 12 month low of $12.99 and a 12 month high of $29.60. The company has a market capitalization of $1,208.66, a P/E ratio of 35.73 and a beta of 1.37.

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

The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, March 16th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.45%. Marten Transport’s dividend payout ratio is currently 16.13%.

In related news, Director Larry B. Hagness sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $23.39, for a total transaction of $280,680.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas J. Winkel sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $22.55, for a total transaction of $140,937.50. The disclosure for this sale can be found here. 23.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MRTN. Prudential Financial Inc. grew its position in Marten Transport by 110.5% during the third quarter. Prudential Financial Inc. now owns 85,982 shares of the transportation company’s stock valued at $1,767,000 after purchasing an additional 45,138 shares in the last quarter. Principal Financial Group Inc. grew its position in Marten Transport by 65.3% during the third quarter. Principal Financial Group Inc. now owns 302,522 shares of the transportation company’s stock valued at $6,217,000 after purchasing an additional 119,507 shares in the last quarter. Sei Investments Co. grew its position in Marten Transport by 109.8% during the third quarter. Sei Investments Co. now owns 6,198 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 3,244 shares in the last quarter. New York State Common Retirement Fund grew its position in Marten Transport by 66.7% during the third quarter. New York State Common Retirement Fund now owns 130,566 shares of the transportation company’s stock valued at $2,683,000 after purchasing an additional 52,226 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Marten Transport by 128.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 19,943 shares of the transportation company’s stock valued at $410,000 after purchasing an additional 11,223 shares in the last quarter. 67.58% of the stock is currently owned by hedge funds and other institutional investors.

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Marten Transport Company Profile

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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