Marten Transport (NASDAQ:MRTN) Reaches New 52-Week High - What's Next?

Key Points

• 52-week high: Marten Transport shares reached a new 52-week high of $15.48 (up about 3.7% on the day) and trade with a market cap around $1.28 billion, above its 50-day and 200-day moving averages.
• Quarterly miss and weakening revenue: The company reported EPS of $0.02 versus $0.03 expected and revenue of $203.5M (down 8.8% YoY), with low net margin (1.68%) and ROE (1.89%), while analysts project roughly $0.22 EPS for the year.
• Dividend concern: Marten declared a $0.06 quarterly dividend ($0.24 annualized, 1.5% yield) but its payout ratio is high at 126.32%, which could raise sustainability questions.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $15.47 and last traded at $15.48, with a volume of 175198 shares traded. The stock had previously closed at $15.14.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MRTN. Weiss Ratings upgraded shares of Marten Transport from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Marten Transport from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Robert W. Baird upgraded shares of Marten Transport to a "strong-buy" rating in a research report on Wednesday, April 1st. Stephens cut shares of Marten Transport from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Marten Transport from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Marten Transport currently has a consensus rating of "Moderate Buy".

Marten Transport Stock Up 3.7%

The firm's 50-day moving average is $13.54 and its 200-day moving average is $12.27. The company has a market cap of $1.28 billion, a PE ratio of 82.86 and a beta of 0.89.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The transportation company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. The company had revenue of $203.53 million for the quarter, compared to analysts' expectations of $207.20 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Marten Transport's quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Marten Transport, Ltd. will post 0.22 EPS for the current fiscal year.

Marten Transport Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. Marten Transport's payout ratio is currently 126.32%.

Hedge Funds Weigh In On Marten Transport

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC increased its position in shares of Marten Transport by 2,083.8% during the fourth quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company's stock valued at $29,000 after buying an additional 2,438 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Marten Transport by 660.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company's stock valued at $33,000 after buying an additional 2,544 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Marten Transport during the third quarter valued at about $40,000. Farther Finance Advisors LLC grew its holdings in Marten Transport by 3,553.8% in the fourth quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company's stock worth $44,000 after purchasing an additional 3,767 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Marten Transport in the third quarter worth about $43,000. Hedge funds and other institutional investors own 69.12% of the company's stock.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.

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