Marten Transport (NASDAQ:MRTN) Sets New 12-Month Low - Should You Sell?

Key Points

• Marten Transport shares fell to a new 52-week low at $11.43, affected by a recent downgrade from Wall Street Zen from "hold" to "sell" with an average target price of $19.00.
• The company reported earnings of $0.09 per share, meeting expectations, but experienced a 6.6% year-over-year revenue decline to $229.92 million.
• Marten Transport declared a quarterly dividend of $0.06 per share, resulting in an annualized yield of 2.1% and a payout ratio of 92.31%.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.43 and last traded at $11.60, with a volume of 221420 shares changing hands. The stock had previously closed at $11.60.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Marten Transport from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Marten Transport currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Marten Transport Stock Down 1.9%

The company has a 50 day moving average of $12.11 and a 200-day moving average of $12.91. The stock has a market capitalization of $902.43 million, a P/E ratio of 42.58 and a beta of 0.99.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share (EPS) 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 firm had revenue of $229.92 million for the quarter, compared to analyst estimates of $231.09 million. During the same period in the previous year, the company earned $0.10 earnings per share. Marten Transport's revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Dividend Announcement

The business 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 of this dividend is Tuesday, September 16th. This represents a $0.24 annualized dividend and a yield of 2.2%. Marten Transport's payout ratio is currently 92.31%.

Institutional Inflows and Outflows

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