Zacks: Brokerages Anticipate Marten Transport, Ltd (MRTN) Will Announce Quarterly Sales of $208.87 Million

Equities analysts expect Marten Transport, Ltd (NASDAQ:MRTN) to post sales of $208.87 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Marten Transport’s earnings, with estimates ranging from $205.10 million to $210.80 million. Marten Transport posted sales of $182.77 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The firm is expected to announce its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Marten Transport will report full year sales of $792.47 million for the current year, with estimates ranging from $788.70 million to $794.40 million. For the next financial year, analysts anticipate that the company will report sales of $861.20 million, with estimates ranging from $844.10 million to $872.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Marten Transport.

Marten Transport (NASDAQ:MRTN) last posted its earnings results on Tuesday, October 16th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $203.10 million. Marten Transport had a net margin of 13.62% and a return on equity of 8.81%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS.

Several brokerages have recently weighed in on MRTN. Zacks Investment Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, July 20th. Stifel Nicolaus upgraded shares of Marten Transport from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a research note on Wednesday, August 29th. They noted that the move was a valuation call. BidaskClub cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. ValuEngine cut shares of Marten Transport from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Finally, Stephens set a $22.00 price objective on shares of Marten Transport and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.75.

MRTN traded up $0.18 during midday trading on Wednesday, hitting $19.77. 220,300 shares of the company traded hands, compared to its average volume of 314,132. The stock has a market capitalization of $1.07 billion, a P/E ratio of 31.89 and a beta of 1.40. Marten Transport has a 52 week low of $18.07 and a 52 week high of $29.60.

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Marten Transport by 1,765.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 47,785 shares of the transportation company’s stock worth $1,121,000 after acquiring an additional 45,223 shares in the last quarter. FMR LLC increased its holdings in Marten Transport by 5.3% in the 2nd quarter. FMR LLC now owns 604,005 shares of the transportation company’s stock worth $14,164,000 after acquiring an additional 30,666 shares in the last quarter. Citadel Advisors LLC increased its holdings in Marten Transport by 147.7% in the 2nd quarter. Citadel Advisors LLC now owns 118,889 shares of the transportation company’s stock worth $2,788,000 after acquiring an additional 70,892 shares in the last quarter. TD Asset Management Inc. purchased a new stake in Marten Transport in the 2nd quarter worth approximately $929,000. Finally, Russell Investments Group Ltd. increased its holdings in Marten Transport by 5.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 185,687 shares of the transportation company’s stock worth $4,353,000 after acquiring an additional 9,792 shares in the last quarter. Hedge funds and other institutional investors own 71.88% of the company’s stock.

About Marten Transport

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.

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