Stephens Issues Pessimistic Forecast for Marten Transport (NASDAQ:MRTN) Stock Price

Marten Transport (NASDAQ:MRTN) had its target price cut by equities researchers at Stephens from $15.00 to $12.50 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Stephens‘s price target suggests a potential upside of 1.63% from the company’s current price.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Marten Transport in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Marten Transport Stock Down 2.8%

Shares of NASDAQ MRTN opened at $12.30 on Friday. The business’s 50 day moving average price is $13.62 and its 200 day moving average price is $15.24. Marten Transport has a 52 week low of $9.35 and a 52 week high of $18.48. The firm has a market cap of $1.00 billion, a P/E ratio of 72.35 and a beta of 1.00.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, October 22nd. The transportation company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $223.23 million during the quarter, compared to analyst estimates of $230.37 million. Marten Transport had a net margin of 1.47% and a return on equity of 1.65%. As a group, research analysts expect that Marten Transport will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Marten Transport

Several institutional investors have recently modified their holdings of the business. Inspire Investing LLC lifted its position in Marten Transport by 25.4% during the 3rd quarter. Inspire Investing LLC now owns 48,938 shares of the transportation company’s stock worth $632,000 after buying an additional 9,903 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Marten Transport by 163.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,587 shares of the transportation company’s stock valued at $201,000 after acquiring an additional 9,662 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Marten Transport by 1,661.7% during the third quarter. Fortitude Family Office LLC now owns 2,114 shares of the transportation company’s stock worth $27,000 after purchasing an additional 1,994 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Marten Transport by 78.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,449 shares of the transportation company’s stock valued at $979,000 after buying an additional 24,741 shares during the last quarter. Finally, State Street Corp increased its position in Marten Transport by 4.9% in the 2nd quarter. State Street Corp now owns 2,723,602 shares of the transportation company’s stock valued at $47,254,000 after acquiring an additional 126,055 shares during the period. Institutional investors and hedge funds own 69.12% of the company’s stock.

About Marten Transport

Marten Transport, Inc is a transportation and logistics company headquartered in Mondovi, Wisconsin. Founded in 1946, the company began as a regional carrier and has developed into a provider of temperature-sensitive and dry freight transportation services.

The company’s operations include refrigerated and dry truck-based transportation, dedicated transportation, intermodal services, and brokerage. Marten Transport serves customers across a range of industries, including food and consumer products, using refrigerated trailers, dry vans, intermodal equipment, and related logistics capabilities.

Marten Transport primarily serves the contiguous United States and also provides transportation services involving Canada and Mexico.