Marten Transport (MRTN) Downgraded by Zacks Investment Research to “Hold”

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Marten Transport (NASDAQ:MRTN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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 have also recently issued research reports about the company. Seaport Global Securities upgraded Marten Transport from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, January 26th. ValuEngine upgraded Marten Transport from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. BidaskClub cut Marten Transport from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Stephens cut Marten Transport from an “overweight” rating to an “equal weight” rating in a research note on Friday, April 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Marten Transport presently has a consensus rating of “Buy” and an average price target of $25.25.

Shares of Marten Transport opened at $22.15 on Friday, according to Marketbeat.com. Marten Transport has a 52-week low of $14.76 and a 52-week high of $29.60. The company has a market capitalization of $1.20 billion, a P/E ratio of 35.73 and a beta of 1.40.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 19th. The transportation company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Marten Transport had a return on equity of 7.27% and a net margin of 12.98%. The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $188.70 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 8.0% on a year-over-year basis. research analysts anticipate that Marten Transport will post 0.92 earnings per share for the current fiscal year.

In other Marten Transport news, VP James J. Hinnendael acquired 7,500 shares of Marten Transport stock in a transaction that occurred on Wednesday, April 25th. The shares were acquired at an average cost of $19.98 per share, with a total value of $149,850.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Marten Transport by 10.5% during the fourth quarter. BlackRock Inc. now owns 5,262,557 shares of the transportation company’s stock valued at $106,829,000 after purchasing an additional 499,269 shares in the last quarter. Clearbridge LLC raised its position in shares of Marten Transport by 10.4% during the fourth quarter. Clearbridge LLC now owns 845,774 shares of the transportation company’s stock worth $17,169,000 after acquiring an additional 79,360 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Marten Transport during the fourth quarter worth about $1,810,000. AlphaOne Investment Services LLC raised its position in shares of Marten Transport by 1.1% during the fourth quarter. AlphaOne Investment Services LLC now owns 223,047 shares of the transportation company’s stock worth $4,528,000 after acquiring an additional 2,389 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Marten Transport by 4.6% during the fourth quarter. California Public Employees Retirement System now owns 112,604 shares of the transportation company’s stock worth $2,286,000 after acquiring an additional 4,938 shares during the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Marten Transport Company Profile

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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