Stephens Cuts Marten Transport (NASDAQ:MRTN) Price Target to $16.00

Key Points

• Stephens lowered its price target on Marten Transport to $16 from $18 while keeping an equal weight rating, implying limited downside from current levels.
• Marten Transport recently reported Q2 earnings of $0.07 per share, missing estimates of $0.08, and revenue of $223.54 million, also below expectations.
• The stock was down about 0.5% and analysts overall still have a Moderate Buy consensus with a $16 average target price.

Marten Transport (NASDAQ:MRTN - Get Free Report) had its target price lowered by analysts at Stephens from $18.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the transportation company's stock. Stephens' price objective would indicate a potential downside of 4.76% from the company's current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird upgraded Marten Transport to a "strong-buy" rating in a research note on Wednesday, April 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marten Transport in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Marten Transport Stock Down 0.5%

Shares of MRTN opened at $16.80 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 88.43 and a beta of 0.93. The business's 50 day moving average is $17.26 and its two-hundred day moving average is $14.76. Marten Transport has a 52-week low of $9.35 and a 52-week high of $18.48.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The transportation company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). Marten Transport had a return on equity of 1.89% and a net margin of 1.68%.The company had revenue of $223.54 million for the quarter, compared to analyst estimates of $227.10 million. During the same period in the previous year, the business posted $0.09 EPS. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Marten Transport will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marten Transport

A number of hedge funds and other institutional investors have recently bought and sold shares of MRTN. Global Retirement Partners LLC lifted its holdings in shares of Marten Transport by 2,083.8% in the 4th quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company's stock worth $29,000 after purchasing an additional 2,438 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Marten Transport by 660.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company's stock worth $33,000 after buying an additional 2,544 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Marten Transport in the third quarter worth $40,000. Farther Finance Advisors LLC increased its position 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 buying an additional 3,767 shares during the period. Finally, State of Wyoming bought a new stake in Marten Transport in the first quarter valued at $68,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.

About Marten Transport

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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