Marten Transport (NASDAQ:MRTN) Price Target Lowered to $21.00 at Stephens

Marten Transport (NASDAQ:MRTN) had its price objective reduced by Stephens from $23.00 to $21.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Separately, Vertical Research upgraded Marten Transport from a hold rating to a buy rating and set a $25.00 price target on the stock in a report on Wednesday, January 10th.

Marten Transport Stock Up 3.7 %

Shares of NASDAQ MRTN opened at $16.56 on Friday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 23.32 and a beta of 0.79. The stock’s fifty day simple moving average is $18.38 and its 200 day simple moving average is $18.99. Marten Transport has a 52-week low of $15.33 and a 52-week high of $23.38.

Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, April 18th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Marten Transport had a return on equity of 7.68% and a net margin of 5.31%. The business had revenue of $249.67 million for the quarter, compared to analysts’ expectations of $262.77 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s quarterly revenue was down 16.2% on a year-over-year basis.

Marten Transport Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. Marten Transport’s dividend payout ratio is 33.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in Marten Transport in the first quarter valued at about $47,000. Quantbot Technologies LP purchased a new position in Marten Transport in the third quarter valued at about $54,000. International Assets Investment Management LLC grew its stake in Marten Transport by 1,997.7% in the fourth quarter. International Assets Investment Management LLC now owns 2,706 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 2,577 shares in the last quarter. Captrust Financial Advisors grew its stake in Marten Transport by 108.6% in the first quarter. Captrust Financial Advisors now owns 3,790 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 1,973 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new position in Marten Transport in the fourth quarter valued at about $71,000. Hedge funds and other institutional investors own 69.12% of the company’s stock.

About Marten Transport

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company 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, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.