Marten Transport (NASDAQ:MRTN) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Marten Transport shares crossed above their 200-day moving average of $12.18, trading as high as $15.13 and last at $14.57 on volume of about 2.17 million shares.
• Several analysts recently adjusted ratings—resulting in one Strong Buy and three Hold ratings—and the stock's consensus rating is a Moderate Buy.
• The company missed quarterly EPS and revenue estimates (revenue down 8.8% YoY), with a slim net margin (1.68%) and a dividend yield of 1.6% backed by a high payout ratio of 126%.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.18 and traded as high as $15.13. Marten Transport shares last traded at $14.57, with a volume of 2,171,228 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Zacks Research raised shares of Marten Transport from a "strong sell" rating to a "hold" rating in a report on Friday, March 13th. Robert W. Baird raised shares of Marten Transport to a "strong-buy" rating in a report on Wednesday, April 1st. Stephens cut shares of Marten Transport from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings raised shares of Marten Transport from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, April 2nd. Finally, Wall Street Zen raised shares of Marten Transport from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Marten Transport Stock Down 3.8%

The business's fifty day simple moving average is $13.45 and its two-hundred day simple moving average is $12.18. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 76.69 and a beta of 0.89.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The transportation company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The company had revenue of $203.53 million for the quarter, compared to analyst estimates of $207.20 million. Marten Transport had a return on equity of 1.89% and a net margin of 1.68%.The firm's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. Sell-side analysts predict that Marten Transport, Ltd. will post 0.22 EPS for the current fiscal year.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.6%. Marten Transport's dividend payout ratio (DPR) is 126.32%.

Hedge Funds Weigh In On Marten Transport

Hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Marten Transport during the third quarter worth approximately $1,396,000. Nuance Investments LLC grew its position in shares of Marten Transport by 6.6% during the third quarter. Nuance Investments LLC now owns 6,122,415 shares of the transportation company's stock worth $65,265,000 after acquiring an additional 376,487 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Marten Transport by 47.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 693,270 shares of the transportation company's stock worth $7,889,000 after acquiring an additional 221,851 shares during the last quarter. American Century Companies Inc. grew its position in shares of Marten Transport by 6.4% during the third quarter. American Century Companies Inc. now owns 2,220,666 shares of the transportation company's stock worth $23,672,000 after acquiring an additional 133,262 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Marten Transport by 22.3% during the fourth quarter. Teacher Retirement System of Texas now owns 487,595 shares of the transportation company's stock worth $5,549,000 after acquiring an additional 88,891 shares during the last quarter. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

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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