Marten Transport, Ltd. (MRTN): Why It Jumped 3.55% Today, And What Comes Next

Big changes are happening at Marten Transport, Ltd. (NASDAQ:MRTN), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 3.55% or (0.63 points) to $18.4 from its previous close of $17.77. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 114401 contracts so far this session. MRTN shares had a relatively better volume day versus average trading capacity of 177.9 thousand shares, but with a 38.61 million float and a -1.5% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MRTN stock indicates that the average analyst price target is $22.33 per share. This means the stock has a potential increase of 21.36% from where the MRTN share price has been trading recently which is between $17.34 and $17.83. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $16.

The shorts are climbing into Marten Transport, Ltd. (MRTN) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in MRTN shares. While short interest still represents only 1.76% of MRTN’s float, the number of shares shorted have risen by 307389. The number of shares shorted advanced to 988554 shares, up from 681165 shares during the preceding fortnight. With average daily trading volumes at 261259 shares, days to cover decreased to about 4.466334 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Marten Transport (MRTN) Earnings Expected to Grow: Should You Buy?” and dated July 09, 2019.

During the recent trading session for Marten Transport, Ltd. (NASDAQ:MRTN), the company witnessed their stock rise $0.24 over a week and tumble down $-0.18 from the price 20 days ago. When compared to their established 52-week high of $24.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/24/18. The recent low of $15.39 stood for a -23.65% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.5 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Marten Transport, Ltd., the two-week RSI stands at 54.64. This figure suggests that MRTN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MRTN readings is similarly very revealing as it has a stochastic reading of 72.74% at this stage. This figure means that MRTN share price today is being oversold.

Technical chart claims that Marten Transport, Ltd. (MRTN) would settle between $17.95/share to $18.14/share level. However, if the stock price goes below the $17.46 mark, then the market for Marten Transport, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $17.16 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Stifel lowered their recommendation on shares of MRTN from Hold to Sell in their opinion released on July 10. Stephens analysts have lowered their rating of Marten Transport, Ltd. (NASDAQ:MRTN) stock from Overweight to Equal-Weight in a separate flash note issued to investors on April 20. Analysts at Seaport Global Securities released an upgrade from Neutral to Buy for the stock, in a research note that dated back to January 26.

MRTN equity has an average rating of 2.75, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Marten Transport, Ltd. (NASDAQ:MRTN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, MRTN stock price is currently trading at 14.93X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.55 while for the average stock in the same group, the multiple is 1.77. Marten Transport, Ltd. current P/E ratio of 31.42 means it is trading at a discount against its industry’s 41.37. In the past 5 years, this ratio for the stock has been fluctuating between 14.94 and 24.68.

Marten Transport, Ltd. (MRTN)’s current-quarter revenues are projected to climb by nearly 5.51% to hit $207870, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 6.29% from $787590 to a noteworthy $837130. At the other end of the current quarter income statement, Marten Transport, Ltd. is expected to see its adjusted earnings surge by roughly 8% to hit $0.27 per share. For the fiscal year, MRTN’s earnings are projected to climb by roughly 11% to hit $1.11 per share.