Marten Transport (NASDAQ:MRTN) Price Target Raised to $19.00

Marten Transport (NASDAQ:MRTN) had its target price increased by equities research analysts at Stephens from $18.00 to $19.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Stephens’ target price suggests a potential upside of 19.96% from the company’s previous close.

MRTN has been the topic of several other research reports. Raymond James cut shares of Marten Transport from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. StockNews.com cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

Marten Transport Trading Down 2.8 %

NASDAQ MRTN traded down $0.46 during trading hours on Tuesday, hitting $15.84. The company’s stock had a trading volume of 129,995 shares, compared to its average volume of 419,705. Marten Transport has a 52 week low of $14.96 and a 52 week high of $20.24. The company has a market capitalization of $1.29 billion, a PE ratio of 37.54 and a beta of 0.83. The company’s 50-day simple moving average is $16.33 and its two-hundred day simple moving average is $16.90.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Monday, January 27th. The transportation company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Marten Transport had a net margin of 3.36% and a return on equity of 4.41%. Research analysts anticipate that Marten Transport will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jerry M. Bauer purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $15.81 per share, for a total transaction of $158,100.00. Following the purchase, the director now directly owns 156,444 shares in the company, valued at approximately $2,473,379.64. This trade represents a 6.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Marten Transport

Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new position in Marten Transport in the 2nd quarter valued at approximately $28,000. Independence Bank of Kentucky purchased a new position in Marten Transport in the 4th quarter valued at approximately $40,000. KBC Group NV grew its stake in Marten Transport by 54.6% in the 3rd quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,192 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Marten Transport by 24.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,289 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Marten Transport in the 3rd quarter valued at approximately $181,000. Hedge funds and other institutional investors own 69.12% of the company’s stock.

Marten Transport Company Profile

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.