Marten Transport (NASDAQ:MRTN) Reaches New 52-Week Low - Here's Why

Key Points

• Marten Transport's stock price fell to a new 52-week low of $11.56 during trading, down from a previous close of $11.84.
• Analysts downgraded Marten Transport from a "hold" to a "sell" rating, now with a consensus target price of $19.00 despite a current "Moderate Buy" rating.
• The company reported a quarterly earnings per share of $0.09, which met analysts' expectations, but revenue declined 6.6% year-over-year.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.56 and last traded at $11.58, with a volume of 144620 shares. The stock had previously closed at $11.84.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Marten Transport from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Marten Transport Trading Down 0.2%

The company has a market cap of $957.04 million, a price-to-earnings ratio of 45.15 and a beta of 0.99. The company's 50 day moving average price is $12.52 and its 200 day moving average price is $13.13.

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

Marten Transport Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.0%. Marten Transport's payout ratio is 92.31%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. purchased a new position in shares of Marten Transport in the 2nd quarter valued at about $35,000. Elevation Point Wealth Partners LLC acquired a new position in Marten Transport during the second quarter worth about $39,000. Parallel Advisors LLC grew its position in Marten Transport by 410.4% during the second quarter. Parallel Advisors LLC now owns 4,634 shares of the transportation company's stock worth $60,000 after buying an additional 3,726 shares during the period. Tower Research Capital LLC TRC increased its holdings in Marten Transport by 378.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,610 shares of the transportation company's stock valued at $73,000 after buying an additional 4,438 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Marten Transport during the 2nd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 69.12% of the company's stock.

About Marten Transport

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.