Stifel analyst John Larkin upgraded Marten Transport to Hold and raised its price target to $23 from $21. The analyst said Truckload sector expectations have come down materially across the Street and believes we are now entering a more constructive period of investing as economic improvement could benefit freight volumes.

Reports Q1 revenue $249.67M, consensus $262.77M. Executive chairman Randolph Marten stated, "The freight market recession's oversupply and weak demand, inflationary operating costs and cumulative impact of freight rate reductions and related freight network disruptions continue to significantly pressure our earnings. The value of our unique multifaceted business model is highlighted by the operating results for our dedicated and brokerage operations in the first quarter. Our operating results improved throughout the quarter after earning 2 cents per share in January, which was also impacted by widespread harsh winter weather."