Stephens Raises Marten Transport (NASDAQ:MRTN) Price Target to $19.00

Marten Transport (NASDAQ:MRTN) had its target price upped by Stephens from $18.00 to $19.00 in a report released on Tuesday morning,Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

Several other research firms have also weighed in on MRTN. StockNews.com lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Raymond James lowered Marten Transport from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th.

Marten Transport Stock Down 3.7 %

Shares of NASDAQ:MRTN opened at $15.69 on Tuesday. The company’s fifty day moving average is $16.31 and its two-hundred day moving average is $16.89. The company has a market cap of $1.28 billion, a P/E ratio of 37.36 and a beta of 0.83. Marten Transport has a 12-month low of $14.96 and a 12-month high of $20.24.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Monday, January 27th. The transportation company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. Equities research analysts anticipate that Marten Transport will post 0.32 earnings per share for the current year.

Marten Transport Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, December 13th. Marten Transport’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new stake in shares of Marten Transport in the 2nd quarter valued at $28,000. Independence Bank of Kentucky bought a new position in Marten Transport during the fourth quarter valued at about $40,000. KBC Group NV lifted its position in shares of Marten Transport by 54.6% in the third quarter. KBC Group NV now owns 3,376 shares of the transportation company’s stock worth $60,000 after buying an additional 1,192 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Marten Transport by 24.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Marten Transport during the 3rd quarter valued at about $181,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

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.