Marten Transport (NASDAQ:MRTN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Marten Transport (NASDAQ:MRTN) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, Stephens increased their price objective on Marten Transport from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th.

Marten Transport Price Performance

Shares of NASDAQ MRTN opened at $12.99 on Thursday. The stock’s 50-day moving average is $13.32 and its two-hundred day moving average is $14.96. Marten Transport has a 1-year low of $12.52 and a 1-year high of $19.26. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 38.21 and a beta of 1.04.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $223.15 million during the quarter, compared to analysts’ expectations of $228.79 million. Marten Transport had a return on equity of 3.52% and a net margin of 2.79%. Equities research analysts anticipate that Marten Transport will post 0.41 earnings per share for the current fiscal year.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.85%. Marten Transport’s payout ratio is 88.89%.

Insider Buying and Selling at Marten Transport

In related news, Director Jerry M. Bauer bought 20,000 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were acquired at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now owns 176,444 shares in the company, valued at $2,272,598.72. This trade represents a 12.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marten Transport

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Independence Bank of Kentucky acquired a new stake in Marten Transport during the 4th quarter valued at $40,000. Meeder Asset Management Inc. bought a new stake in Marten Transport during the fourth quarter valued at about $42,000. Johnson Financial Group Inc. bought a new stake in Marten Transport during the 4th quarter valued at approximately $48,000. Quantbot Technologies LP bought a new stake in shares of Marten Transport in the fourth quarter valued at approximately $100,000. Finally, PNC Financial Services Group Inc. grew its position in Marten Transport by 44.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company’s stock worth $102,000 after purchasing an additional 2,291 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.

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.