Covenant Transportation Group Inc. (NASDAQ:CVTI) traded up 6.1% during mid-day trading on Friday . The company traded as high as $19.26 and last traded at $19.14, with a volume of 88,832 shares trading hands. The stock had previously closed at $18.04.

Several equities research analysts recently weighed in on CVTI shares. Cowen and Company reduced their target price on shares of Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, June 22nd. BB&T Corp. cut shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Stifel Nicolaus started coverage on shares of Covenant Transportation Group in a research note on Wednesday, March 23rd. They issued a “buy” rating and a $29.00 target price for the company. Finally, Avondale Partners cut shares of Covenant Transportation Group from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a research note on Monday, March 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Covenant Transportation Group has a consensus rating of “Hold” and an average price target of $28.20.

The firm has a market capitalization of $348.39 million and a PE ratio of 9.82. The stock has a 50-day moving average of $20.49 and a 200-day moving average of $20.50.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $156.34 million for the quarter, compared to analyst estimates of $163.94 million. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that Covenant Transportation Group Inc. will post $1.24 EPS for the current fiscal year.

A number of hedge funds have bought and sold shares of the stock. Oxford Asset Management acquired a new stake in Covenant Transportation Group during the fourth quarter worth about $1,346,000. Redwood Investments LLC increased its stake in Covenant Transportation Group by 24.5% in the fourth quarter. Redwood Investments LLC now owns 84,388 shares of the company’s stock worth $1,594,000 after buying an additional 16,630 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Covenant Transportation Group by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 124,845 shares of the company’s stock worth $2,358,000 after buying an additional 745 shares in the last quarter.

Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.

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