KeyBanc Downgrades Marten Transport Ltd to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Marten Transport Ltd(NASDAQ:MRTN). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Jul 12, 2016.

Marten Transport Ltd (MRTN) made into the market gainers list on Fridays trading session with the shares advancing 0.60% or 0.13 points. Due to strong positive momentum, the stock ended at $21.69, which is also near the day’s high of $21.88. The stock began the session at $21.79 and the volume stood at 80,028 shares. The 52-week high of the shares is $22.09 and the 52 week low is $14.62. The company has a current market capitalization of $703 M and it has 3,24,23,231 shares in outstanding.

Marten Transport Ltd(MRTN) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $161.93M. Analysts had an estimated revenue of $171.38M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, John H Turner (Sr. Vice President of Sales) sold 2,400 shares at $19.40 per share price.Also, On May 25, 2016, Randolph L Marten (director officer 10% owner (Chairman of the Board) sold 40,000 shares at $19.26 per share price.On Mar 15, 2016, Thomas J Winkel (director) sold 3,250 shares at $17.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Marten Transport Ltd. is a temperature-sensitive truckload carrier. The Company is engaged in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. 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. The Company operates through four segments: Truckload offers a combination of regional short-haul and medium-to-long-haul full-load transportation services; Dedicated provides transportation solutions including temperature-controlled trailers and other specialized equipment; Intermodal transports freight and Brokerage arranges for third-party carriers to transport freight.

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