Marten Transport (NASDAQ:MRTN) Downgraded by StockNews.com to “Hold”

Posted by Defense World Staff on Apr 26th, 2023

Marten Transport (NASDAQ:MRTN – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Marten Transport Stock Performance

NASDAQ:MRTN opened at $20.53 on Wednesday. The firm’s fifty day moving average is $21.07 and its 200-day moving average is $20.61. Marten Transport has a 52 week low of $16.00 and a 52 week high of $23.43. The firm has a market cap of $1.67 billion, a P/E ratio of 15.79 and a beta of 0.88.

Marten Transport (NASDAQ:MRTN – Get Rating) last issued its earnings results on Tuesday, April 18th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $306.10 million. Marten Transport had a net margin of 8.26% and a return on equity of 15.22%. Marten Transport’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Marten Transport will post 1.29 earnings per share for the current year.

Insider Activity

In other Marten Transport news, Director Thomas J. Winkel sold 5,313 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $20.12, for a total transaction of $106,897.56. Following the completion of the transaction, the director now owns 53,674 shares in the company, valued at $1,079,920.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marten Transport

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Marten Transport by 835.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 1,170 shares during the period. Group One Trading L.P. bought a new position in shares of Marten Transport in the 3rd quarter worth about $28,000. Motco bought a new position in shares of Marten Transport in the 4th quarter worth about $30,000. Lazard Asset Management LLC bought a new position in shares of Marten Transport in the 1st quarter worth about $47,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Marten Transport by 63.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,865 shares of the transportation company’s stock worth $55,000 after acquiring an additional 1,111 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors.

Marten Transport Company Profile

(Get Rating)

Marten Transport Ltd. engages in the provision of temperature-sensitive truckload carrier services. It operates through the following segments: Truckload, Dedicated, Intermodal and Brokerage. The Truckload segment includes transport of food and consumer packaged goods that require a temperature-controlled or insulated environment.