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

Marten Transport (NASDAQ:MRTN) had its price target decreased by investment analysts at Stephens from $23.00 to $21.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Stephens’ price target suggests a potential upside of 27.35% from the stock’s current price.

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

Marten Transport Price Performance

NASDAQ MRTN traded up $0.52 on Friday, hitting $16.49. 300,320 shares of the stock were exchanged, compared to its average volume of 457,821. The business’s fifty day moving average is $18.44 and its 200 day moving average is $19.01. Marten Transport has a 52 week low of $15.33 and a 52 week high of $23.38. The company has a market capitalization of $1.34 billion, a PE ratio of 19.03 and a beta of 0.79.

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

Hedge Funds Weigh In On Marten Transport

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Marten Transport by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,991,568 shares of the transportation company’s stock valued at $106,413,000 after purchasing an additional 40,954 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Marten Transport by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 4,338,538 shares of the transportation company’s stock valued at $91,023,000 after purchasing an additional 132,407 shares in the last quarter. State Street Corp boosted its stake in shares of Marten Transport by 8.8% in the 2nd quarter. State Street Corp now owns 2,875,734 shares of the transportation company’s stock valued at $48,370,000 after purchasing an additional 231,754 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Marten Transport by 47.3% in the 4th quarter. First Trust Advisors LP now owns 1,406,400 shares of the transportation company’s stock valued at $29,506,000 after purchasing an additional 451,340 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Marten Transport by 4.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,299,303 shares of the transportation company’s stock valued at $25,609,000 after purchasing an additional 59,840 shares in the last quarter. 69.12% of the stock is currently owned by institutional investors and hedge funds.

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.