Marten Transport (NASDAQ:MRTN) Upgraded to “Strong-Buy” at Robert W. Baird

Robert W. Baird upgraded shares of Marten Transport (NASDAQ:MRTN) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on MRTN. Wall Street Zen raised Marten Transport from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research raised shares of Marten Transport from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Marten Transport in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

Marten Transport Price Performance

Marten Transport stock opened at $13.77 on Wednesday. Marten Transport has a 1-year low of $9.35 and a 1-year high of $15.42. The stock has a market cap of $1.12 billion, a PE ratio of 62.59 and a beta of 0.82. The stock’s fifty day moving average is $12.96 and its two-hundred day moving average is $11.67.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Tuesday, January 27th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Marten Transport had a return on equity of 2.27% and a net margin of 1.97%.The business had revenue of $210.11 million during the quarter, compared to analysts’ expectations of $207.22 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, research analysts expect that Marten Transport will post 0.41 earnings per share for the current fiscal year.

Marten Transport Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 17th. Marten Transport’s payout ratio is presently 109.09%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in Marten Transport by 2,083.8% during the fourth quarter. Global Retirement Partners LLC now owns 2,555 shares of the transportation company’s stock worth $29,000 after buying an additional 2,438 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Marten Transport by 660.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 2,544 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Marten Transport during the third quarter worth approximately $40,000. Atlantic Union Bankshares Corp purchased a new position in shares of Marten Transport during the third quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Marten Transport by 3,553.8% in the 4th quarter. Farther Finance Advisors LLC now owns 3,873 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 3,767 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 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.