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

Marten Transport (NASDAQ:MRTN) was downgraded by investment 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 reduced their price objective for the stock from $22.00 to $19.00 in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Marten Transport currently has an average rating of “Hold” and an average target price of $20.00.

Marten Transport Stock Down 1.2 %

MRTN stock opened at $16.71 on Wednesday. The business’s 50-day moving average price is $17.46 and its 200-day moving average price is $17.59. The stock has a market cap of $1.36 billion, a P/E ratio of 23.75 and a beta of 0.77. Marten Transport has a twelve month low of $15.33 and a twelve month high of $21.38.

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

Insider Buying and Selling

In other Marten Transport news, COO Adam Daniel Phillips sold 4,500 shares of Marten Transport 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 transaction, the chief operating officer now owns 7,448 shares in the company, valued at $136,596.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Marten Transport

Institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Marten Transport during the second quarter worth about $28,000. YHB Investment Advisors Inc. purchased a new stake in Marten Transport during the 1st quarter worth approximately $37,000. CWM LLC increased its stake in Marten Transport by 88.8% during the 2nd quarter. CWM LLC now owns 3,319 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 1,561 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Marten Transport by 7.4% in the first quarter. ProShare Advisors LLC now owns 11,706 shares of the transportation company’s stock worth $216,000 after buying an additional 807 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Marten Transport by 10.4% during the second 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 during the period. 69.12% of the stock is currently 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.