Marten Transport (NASDAQ:MRTN) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $19.00 price objective on the transportation company's stock. Zacks Investment Research's price objective would indicate a potential upside of 10.85% from the stock's current price.
According to Zacks, "Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation in the United States. The company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten operates through these featured services - Truckload, Dedicated, Intermodal and Brokerage. Marten Transport offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN and is headquartered in Mondovi, Wisconsin. "
Separately, Vertical Research started coverage on Marten Transport in a research note on Thursday, April 1st. They issued a "buy" rating and a $22.00 price objective on the stock.
NASDAQ:MRTN opened at $17.14 on Thursday. The stock has a market cap of $1.42 billion, a P/E ratio of 21.43 and a beta of 1.06. The stock's 50-day moving average is $16.71 and its 200-day moving average is $17.01. Marten Transport has a 1-year low of $13.34 and a 1-year high of $20.13.
Marten Transport (NASDAQ:MRTN) last posted its quarterly earnings data on Monday, January 25th. The transportation company reported $0.24 EPS for the quarter, topping the Zacks' consensus estimate of $0.22 by $0.02. The company had revenue of $227.30 million for the quarter, compared to analyst estimates of $226.80 million. Marten Transport had a return on equity of 10.58% and a net margin of 7.60%. The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities analysts forecast that Marten Transport will post 0.82 earnings per share for the current fiscal year.
In other Marten Transport news, Director Thomas J. Winkel sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $16.77, for a total value of $100,620.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.80% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Marten Transport by 35.6% during the third quarter. Public Employees Retirement System of Ohio now owns 3,098 shares of the transportation company's stock worth $51,000 after purchasing an additional 814 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Marten Transport during the fourth quarter worth approximately $178,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Marten Transport during the third quarter worth approximately $184,000. Crossmark Global Holdings Inc. acquired a new position in shares of Marten Transport during the fourth quarter worth approximately $186,000. Finally, First Hawaiian Bank acquired a new position in shares of Marten Transport during the fourth quarter worth approximately $200,000. 70.16% of the stock is currently owned by institutional investors.
Marten Transport Company Profile
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.
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