Marten Transport (NASDAQ:MRTN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

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. “

MRTN has been the topic of several other reports. Stephens assumed coverage on shares of Marten Transport in a research report on Monday, July 1st. They issued a hold rating on the stock. BidaskClub downgraded shares of Marten Transport from a buy rating to a hold rating in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus set a $18.00 target price on shares of Marten Transport and gave the stock a hold rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Marten Transport has an average rating of Hold and an average price target of $20.67.

Shares of MRTN traded up $0.02 during mid-day trading on Friday, hitting $20.16. The company’s stock had a trading volume of 86,269 shares, compared to its average volume of 203,081. The firm has a 50-day moving average price of $20.21 and a 200 day moving average price of $19.08. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 20.16 and a beta of 1.49. Marten Transport has a fifty-two week low of $15.39 and a fifty-two week high of $22.37.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Thursday, July 18th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $212.10 million for the quarter, compared to analysts’ expectations of $208.45 million. Marten Transport had a net margin of 7.33% and a return on equity of 10.25%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities research analysts forecast that Marten Transport will post 1.11 EPS for the current fiscal year.

The company also recently announced a None dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, August 26th were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 23rd. Marten Transport’s dividend payout ratio (DPR) is currently 12.00%.

Institutional investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in shares of Marten Transport in the first quarter worth approximately $35,000. M&T Bank Corp acquired a new stake in shares of Marten Transport during the second quarter worth approximately $193,000. WINTON GROUP Ltd acquired a new stake in shares of Marten Transport during the second quarter worth approximately $211,000. Capital Fund Management S.A. boosted its holdings in shares of Marten Transport by 19.3% during the second quarter. Capital Fund Management S.A. now owns 14,200 shares of the transportation company’s stock worth $258,000 after purchasing an additional 2,300 shares during the period. Finally, Sawtooth Solutions LLC acquired a new stake in shares of Marten Transport during the first quarter worth approximately $260,000. 69.24% of the stock is currently owned by institutional investors and hedge funds.

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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