Marten Transport (NASDAQ:MRTN) Downgraded to Sell at BidaskClub

Marten Transport (NASDAQ:MRTN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday, BidAskClub reports.

MRTN has been the subject of several other research reports. KeyCorp dropped their price target on Marten Transport from $31.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. Loop Capital raised Marten Transport from a “hold” rating to a “buy” rating and lifted their price objective for the company from $17.33 to $18.00 in a research report on Wednesday, June 10th. Finally, Zacks Investment Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $19.33 price objective for the company in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.25.

Marten Transport stock opened at $16.35 on Friday. The stock has a fifty day moving average of $18.13 and a two-hundred day moving average of $16.12. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 22.40 and a beta of 0.97. Marten Transport has a fifty-two week low of $10.67 and a fifty-two week high of $20.13.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, July 16th. The transportation company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The company had revenue of $212.38 million during the quarter, compared to the consensus estimate of $207.80 million. Marten Transport had a return on equity of 10.61% and a net margin of 7.44%. Research analysts anticipate that Marten Transport will post 0.75 earnings per share for the current fiscal year.

In other news, President Timothy M. Kohl sold 15,000 shares of Marten Transport stock in a transaction on Friday, August 14th. The stock was sold at an average price of $18.62, for a total value of $279,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.80% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its position in Marten Transport by 133.7% during the first quarter. Morgan Stanley now owns 486,239 shares of the transportation company’s stock valued at $9,976,000 after acquiring an additional 278,141 shares during the period. Wellington Management Group LLP grew its position in Marten Transport by 15.8% during the first quarter. Wellington Management Group LLP now owns 1,078,607 shares of the transportation company’s stock valued at $22,133,000 after acquiring an additional 147,263 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Marten Transport by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 32,542 shares of the transportation company’s stock worth $668,000 after purchasing an additional 1,624 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Marten Transport by 48.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,536 shares of the transportation company’s stock worth $401,000 after purchasing an additional 6,372 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Marten Transport by 10.8% during the first quarter. Rhumbline Advisers now owns 196,703 shares of the transportation company’s stock worth $4,036,000 after purchasing an additional 19,159 shares in the last quarter. 47.45% of the stock is owned by hedge funds and other institutional investors.

About Marten Transport

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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