Marten Transport (NASDAQ:MRTN) Price Target Cut to $21.00 by Analysts at Stephens

Marten Transport (NASDAQ:MRTN) had its target price decreased by investment analysts at Stephens from $23.00 to $21.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Stephens’ price objective points to a potential upside of 27.35% from the company’s previous close.

Separately, Vertical Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, January 10th.

Marten Transport Trading Up 3.3 %

Shares of MRTN traded up $0.52 during mid-day trading on Friday, hitting $16.49. 300,320 shares of the company’s stock were exchanged, compared to its average volume of 457,821. Marten Transport has a fifty-two week low of $15.33 and a fifty-two week high of $23.38. The firm has a market capitalization of $1.34 billion, a P/E ratio of 19.03 and a beta of 0.79. The business’s 50 day moving average is $18.44 and its two-hundred day moving average is $19.01.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Thursday, April 18th. The transportation company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Marten Transport had a net margin of 6.22% and a return on equity of 9.48%. The business had revenue of $249.67 million during the quarter, compared to the consensus estimate of $262.77 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 16.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MRTN. Allspring Global Investments Holdings LLC grew its stake in Marten Transport by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 387,770 shares of the transportation company’s stock worth $7,166,000 after acquiring an additional 6,429 shares during the period. Confluence Investment Management LLC purchased a new stake in Marten Transport in the 1st quarter worth approximately $2,988,000. Vanguard Group Inc. grew its stake in Marten Transport by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 4,338,538 shares of the transportation company’s stock worth $91,023,000 after acquiring an additional 132,407 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Marten Transport by 6.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,350 shares of the transportation company’s stock worth $490,000 after acquiring an additional 1,516 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Marten Transport in the 4th quarter worth approximately $1,046,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

About Marten Transport

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.