Stock of The Day: What’s Propelling Marten Transport, Ltd to Reach 52-Week High?

Stock of The Day: What's Propelling Marten Transport, Ltd to Reach 52 Week High?

The stock of Marten Transport, Ltd (NASDAQ:MRTN) hit a new 52-week high and has $35.18 target or 61.00% above today’s $21.85 share price. The 8 months bullish chart indicates low risk for the $751.97M company. The 1-year high was reported on Nov, 11 by If the $35.18 price target is reached, the company will be worth $458.70 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 2.46% or $0.55 during the last trading session, hitting $21.85. About 387,760 shares traded hands or 339.95% up from the average. Marten Transport, Ltd (NASDAQ:MRTN) has risen 30.01% since April 11, 2016 and is uptrending. It has outperformed by 23.86% the S&P500.

Marten Transport, Ltd (NASDAQ:MRTN) Ratings Coverage

Out of 2 analysts covering Marten Transport (NASDAQ:MRTN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Marten Transport has been the topic of 3 analyst reports since August 27, 2015 according to StockzIntelligence Inc. Stifel Nicolaus upgraded Marten Transport, Ltd (NASDAQ:MRTN) rating on Thursday, August 27. Stifel Nicolaus has “Buy” rating and $24 price target. The stock has “Buy” rating given by Stifel Nicolaus on Wednesday, January 27. Avondale downgraded the shares of MRTN in a report on Friday, July 22 to “Market Perform” rating.

According to Zacks Investment Research, “Marten Transport, Ltd. is a long-haul truckload carrier providing protective service and time- sensitive transportation. Protective service transportation means temperature controlled or insulated carriage of temperature-sensitive materials and general commodities.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.79, from 1.77 in 2016Q1. The ratio turned negative, as 9 funds sold all Marten Transport, Ltd shares owned while 47 reduced positions. 15 funds bought stakes while 40 increased positions. They now own 22.15 million shares or 3.90% more from 21.32 million shares in 2016Q1.
Sit Investment Associate Incorporated last reported 38,650 shares in the company. Guggenheim Capital Ltd Llc, a Illinois-based fund reported 109,365 shares. Legal General Gru Public Ltd Llc accumulated 4,693 shares or 0% of the stock. Alliancebernstein Lp owns 10,975 shares or 0% of their US portfolio. Walleye Trading Ltd Liability accumulated 0% or 1,100 shares. Heartland Advisors Inc, a Wisconsin-based fund reported 300,000 shares. Deere & has 0.02% invested in the company for 17,338 shares. Counselors Of Maryland Limited Liability Company has 0.86% invested in the company for 791,575 shares. Moreover, Bank & Trust Of New York Mellon has 0.01% invested in Marten Transport, Ltd (NASDAQ:MRTN) for 1.11 million shares. Amer Intll Gru has 17,109 shares for 0% of their US portfolio. D E Shaw & accumulated 0% or 55,832 shares. Clearbridge Limited Company, a Maryland-based fund reported 308,912 shares. Bridgeway reported 213,448 shares or 0.07% of all its holdings. Wall Street accumulated 87,650 shares or 0.69% of the stock. Penn has 380,984 shares for 0.43% of their US portfolio.

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 4 selling transactions for $3.02 million net activity. 1,275 shares were sold by TURNER JOHN H, worth $28,050 on Friday, August 5. The insider MARTEN RANDOLPH L sold $2.18M.

MRTN Company Profile

Marten Transport, Ltd., incorporated on April 4, 1988, is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Firm specializes in transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Firm operates through four divisions: Truckload, Dedicated, Intermodal and Brokerage. It operates throughout the United States and in parts of Canada and Mexico. The Company’s medium- to long-haul traffic lanes are between the Midwest and the West Coast, Southwest, Southeast and the East Coast, as well as from California to the Pacific Northwest. It provides regional truckload carrier services in the Southeast, West Coast, Midwest, South Central and Northeast regions. It offers Door to Door, and Customs and Trade Partnership Against Terrorism (CTPAT) Certified services in Mexico. The Company’s Logistics services include National Capacity Relationships and third-party logistics (3PL) Services.

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