Marten Transport (NASDAQ:MRTN) Lowered to “Sell” at StockNews.com

Marten Transport (NASDAQ:MRTN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Separately, Vertical Research cut Marten Transport from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Marten Transport presently has an average rating of “Hold” and a consensus target price of $20.00.

Marten Transport Stock Performance

Shares of NASDAQ:MRTN traded down $0.35 on Wednesday, hitting $16.91. 319,463 shares of the company’s stock were exchanged, compared to its average volume of 413,920. The firm’s 50-day moving average is $17.47 and its 200 day moving average is $17.60. The company has a market capitalization of $1.38 billion, a PE ratio of 23.82 and a beta of 0.77. Marten Transport has a 1-year low of $15.33 and a 1-year high of $21.38.

Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, July 18th. The transportation company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $246.24 million for the quarter, compared to analyst estimates of $249.11 million. Marten Transport had a return on equity of 5.74% and a net margin of 4.17%. The company’s revenue was down 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. On average, analysts anticipate that Marten Transport will post 0.46 EPS for the current fiscal year.

Insider Activity at Marten Transport

In related news, COO Adam Daniel Phillips sold 4,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.34, for a total value of $82,530.00. Following the completion of the sale, the chief operating officer now directly owns 7,448 shares of the company’s stock, valued at approximately $136,596.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 22.90% of the company’s stock.

Institutional Trading of Marten Transport

Hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Marten Transport during the 2nd quarter worth approximately $28,000. YHB Investment Advisors Inc. purchased a new position in shares of Marten Transport during the 1st quarter worth approximately $37,000. CWM LLC raised its stake in shares of Marten Transport by 88.8% during the 2nd quarter. CWM LLC now owns 3,319 shares of the transportation company’s stock worth $61,000 after buying an additional 1,561 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Marten Transport by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,706 shares of the transportation company’s stock worth $216,000 after buying an additional 807 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Marten Transport by 10.4% during the 2nd quarter. Truist Financial Corp now owns 16,189 shares of the transportation company’s stock worth $299,000 after buying an additional 1,522 shares in the last quarter. 69.12% of the stock is 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.