Marten Transport (NASDAQ:MRTN) Reaches New 1-Year Low - What's Next?

Key Points

• Marten Transport's stock price has reached a new 52-week low, trading as low as $11.74, reflecting a recent downturn with a volume of 41,776 shares.
• The company was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a bearish outlook from analysts.
• Marten Transport reported a 6.6% year-over-year decline in revenue for the last quarter, earning $0.09 per share, which met analysts' expectations but signals potential challenges ahead.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $11.74 and last traded at $11.85, with a volume of 41776 shares traded. The stock had previously closed at $11.88.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Marten Transport from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Marten Transport Stock Down 1.2%

The firm has a market cap of $956.61 million, a price-to-earnings ratio of 45.13 and a beta of 0.98. The company has a 50 day moving average of $13.00 and a 200 day moving average of $13.66.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%. The business had revenue of $229.92 million for the quarter, compared to analysts' expectations of $231.09 million. During the same period in the prior year, the firm earned $0.10 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Marten Transport

A number of hedge funds have recently bought and sold shares of the company. Aigen Investment Management LP increased its holdings in Marten Transport by 6.0% in the first quarter. Aigen Investment Management LP now owns 13,648 shares of the transportation company's stock worth $187,000 after buying an additional 774 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Marten Transport by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,049 shares of the transportation company's stock worth $516,000 after purchasing an additional 1,152 shares during the period. Fox Run Management L.L.C. increased its position in shares of Marten Transport by 6.9% during the second quarter. Fox Run Management L.L.C. now owns 21,114 shares of the transportation company's stock valued at $274,000 after purchasing an additional 1,362 shares during the period. Royal Bank of Canada raised its position in Marten Transport by 12.0% in the first quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company's stock worth $234,000 after purchasing an additional 1,826 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Marten Transport by 15.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,691 shares of the transportation company's stock worth $178,000 after purchasing an additional 1,865 shares during the last quarter. 69.12% of the stock is 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 State, Mexico, and Canada. The company 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, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.

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