Marten Transport (NASDAQ:MRTN) Upgraded by Stephens to Hold Rating

Stephens upgraded shares of Marten Transport (NASDAQ:MRTN) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also issued reports on MRTN. Weiss Ratings reissued a “hold (c-)” rating on shares of Marten Transport in a research note on Tuesday, June 30th. Zacks Research raised shares of Marten Transport from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Robert W. Baird upgraded Marten Transport to a “strong-buy” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marten Transport currently has an average rating of “Moderate Buy”.

Marten Transport Trading Down 0.3%

Shares of NASDAQ MRTN opened at $17.18 on Wednesday. Marten Transport has a one year low of $9.35 and a one year high of $18.48. The business has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $14.30. The firm has a market capitalization of $1.40 billion, a PE ratio of 90.43 and a beta of 0.93.

Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, April 23rd. The transportation company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $203.53 million during the quarter, compared to analyst estimates of $207.20 million. Marten Transport had a net margin of 1.68% and a return on equity of 1.89%. Marten Transport’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Research analysts anticipate that Marten Transport will post 0.25 EPS for the current year.

Marten Transport Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.06 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Marten Transport’s dividend payout ratio is currently 126.32%.

Institutional Trading of Marten Transport

A number of institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC grew its position in Marten Transport by 0.6% in the fourth quarter. AlphaQuest LLC now owns 121,536 shares of the transportation company’s stock worth $1,383,000 after acquiring an additional 755 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Marten Transport by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 76,690 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 1,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Marten Transport by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company’s stock valued at $473,000 after purchasing an additional 1,447 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Marten Transport by 3.4% in the 3rd quarter. Sei Investments Co. now owns 48,628 shares of the transportation company’s stock valued at $518,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Marten Transport by 12.0% in the first quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company’s stock worth $234,000 after purchasing an additional 1,826 shares in the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.