Marten Transport (NASDAQ:MRTN) Lifted to “Buy” at Zacks Investment Research

Marten Transport (NASDAQ:MRTN – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $19.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.59% from the company’s current price.

According to Zacks, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation in the United States. The company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten operates through these featured services – Truckload, Dedicated, Intermodal and Brokerage. Marten Transport offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN and is headquartered in Mondovi, Wisconsin. “

Several other brokerages have also recently issued reports on MRTN. StockNews.com initiated coverage on Marten Transport in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Stephens increased their target price on Marten Transport from $21.00 to $22.00 in a research report on Friday, April 1st.

Shares of MRTN opened at $17.18 on Friday. The business’s fifty day moving average price is $17.63 and its 200 day moving average price is $16.96. Marten Transport has a 12-month low of $14.72 and a 12-month high of $19.94. The stock has a market capitalization of $1.43 billion, a PE ratio of 16.52 and a beta of 0.86.

Marten Transport (NASDAQ:MRTN – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Marten Transport had a return on equity of 13.29% and a net margin of 8.77%. The firm had revenue of $287.28 million for the quarter, compared to analysts’ expectations of $262.17 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. Sell-side analysts predict that Marten Transport will post 1.18 EPS for the current year.

In other news, CFO James J. Hinnendael sold 6,350 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $18.38, for a total transaction of $116,713.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Demorest sold 10,313 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $16.96, for a total value of $174,908.48. The disclosure for this sale can be found here. Insiders sold 29,324 shares of company stock worth $526,179 over the last ninety days. 22.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MRTN. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Marten Transport during the fourth quarter valued at $43,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Marten Transport by 24.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,289 shares of the transportation company’s stock worth $56,000 after acquiring an additional 639 shares during the period. Pinebridge Investments L.P. acquired a new position in Marten Transport during the fourth quarter worth about $84,000. Koshinski Asset Management Inc. acquired a new position in Marten Transport during the first quarter worth about $109,000. Finally, CWM LLC acquired a new position in Marten Transport during the fourth quarter worth about $121,000. 68.64% of the stock is currently owned by institutional investors.

About Marten Transport (Get Rating)

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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