Marten Transport (NASDAQ:MRTN) Reaches New 12-Month Low – Here’s What Happened

Marten Transport, Ltd. (NASDAQ:MRTN)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $11.74 and last traded at $11.85, with a volume of 41776 shares traded. The stock had previously closed at $11.88.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Marten Transport from a “hold” rating to a “sell” rating in a research report on Saturday.

Marten Transport Stock Performance

The firm has a market cap of $967.32 million, a P/E ratio of 45.65 and a beta of 0.98. The company has a 50-day moving average of $12.97 and a 200 day moving average of $13.61.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Wednesday, July 16th. The transportation company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%. The business had revenue of $229.92 million during the quarter, compared to the consensus estimate of $231.09 million. During the same quarter last year, the company earned $0.10 EPS. Marten Transport’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Marten Transport

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuance Investments LLC grew its holdings in Marten Transport by 9.7% during the 2nd quarter. Nuance Investments LLC now owns 5,745,928 shares of the transportation company’s stock worth $74,640,000 after acquiring an additional 508,486 shares during the last quarter. Vanguard Group Inc. raised its position in Marten Transport by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,210,598 shares of the transportation company’s stock worth $57,769,000 after purchasing an additional 14,680 shares during the last quarter. Victory Capital Management Inc. raised its position in Marten Transport by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,135,484 shares of the transportation company’s stock worth $56,739,000 after purchasing an additional 63,916 shares during the last quarter. Geneva Capital Management LLC raised its position in Marten Transport by 6.3% in the 2nd quarter. Geneva Capital Management LLC now owns 3,355,193 shares of the transportation company’s stock worth $43,584,000 after purchasing an additional 199,690 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Marten Transport by 8.8% in the 1st quarter. American Century Companies Inc. now owns 1,961,073 shares of the transportation company’s stock valued at $26,906,000 after buying an additional 158,028 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.