Marten Transport (NASDAQ:MRTN) Reaches New 1-Year Low – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.56 and last traded at $9.6250, with a volume of 69573 shares traded. The stock had previously closed at $9.73.

Analysts Set New Price Targets

MRTN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marten Transport in a research report on Wednesday, October 8th. Wall Street Zen cut Marten Transport from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.00.

Marten Transport Stock Down 1.0%

The company has a market capitalization of $785.12 million, a price-to-earnings ratio of 40.10 and a beta of 0.94. The business has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $12.07.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Thursday, October 23rd. The transportation company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $194.00 million during the quarter, compared to analyst estimates of $230.38 million. Marten Transport had a net margin of 2.14% and a return on equity of 2.52%. Marten Transport’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. As a group, equities analysts predict that Marten Transport, Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Marten Transport

Several large investors have recently added to or reduced their stakes in MRTN. Hantz Financial Services Inc. bought a new position in shares of Marten Transport in the second quarter valued at approximately $35,000. Elevation Point Wealth Partners LLC acquired a new position in Marten Transport during the 2nd quarter worth about $39,000. Atlantic Union Bankshares Corp acquired a new position in Marten Transport during the 3rd quarter worth about $43,000. Parallel Advisors LLC grew its holdings in Marten Transport by 410.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,634 shares of the transportation company’s stock worth $60,000 after acquiring an additional 3,726 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Marten Transport by 131.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,816 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 3,302 shares in the last quarter. 69.12% of the stock is owned by 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.