Marten Transport (NASDAQ:MRTN) Rating Lowered to Hold at Vertical Research

Marten Transport (NASDAQ:MRTNGet Rating) was downgraded by equities research analysts at Vertical Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, The Fly reports. They currently have a $25.00 price objective on the transportation company’s stock, up from their previous price objective of $24.00. Vertical Research’s price objective would indicate a potential upside of 6.93% from the stock’s previous close.

Separately, Stephens upped their target price on shares of Marten Transport to $23.00 in a research note on Friday, July 22nd.

Marten Transport Trading Up 2.1 %

Shares of MRTN stock opened at $23.38 on Wednesday. The company has a market capitalization of $1.89 billion, a PE ratio of 18.27 and a beta of 0.93. The firm has a fifty day simple moving average of $18.79 and a 200-day simple moving average of $17.99. Marten Transport has a twelve month low of $14.72 and a twelve month high of $23.43.

Marten Transport (NASDAQ:MRTNGet Rating) last announced its earnings results on Monday, July 18th. The transportation company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $329.57 million during the quarter, compared to the consensus estimate of $291.70 million. Marten Transport had a net margin of 9.27% and a return on equity of 16.24%. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Equities research analysts predict that Marten Transport will post 1.41 EPS for the current year.

Insider Buying and Selling at Marten Transport

In other Marten Transport news, Director Larry B. Hagness sold 10,313 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $22.93, for a total transaction of $236,477.09. Following the transaction, the director now directly owns 195,475 shares in the company, valued at approximately $4,482,241.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in shares of Marten Transport by 175.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,754 shares of the transportation company’s stock worth $30,000 after buying an additional 1,117 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Marten Transport by 328.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,143 shares of the transportation company’s stock worth $36,000 after buying an additional 1,643 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Marten Transport in the 4th quarter worth about $43,000. Lazard Asset Management LLC bought a new position in shares of Marten Transport in the 1st quarter worth about $47,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Marten Transport by 24.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,289 shares of the transportation company’s stock worth $56,000 after buying an additional 639 shares during the last quarter. 68.50% of the stock is currently owned by institutional investors.

About Marten Transport

(Get Rating)

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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