Covenant Transportation Group Inc. (NASDAQ:CVTI) traded up 6.1% on Friday . The stock 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 have weighed in on the stock. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Tuesday, March 29th. Cowen and Company lowered 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. Avondale Partners downgraded 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. BB&T Corp. downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
Finally, Stifel Nicolaus assumed 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.20.

The stock has a 50-day moving average price of $20.48 and a 200-day moving average price of $20.51. The company has a market capitalization of $348.39 million and a price-to-earnings ratio of 9.82.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. During the same period last year, the firm posted $0.30 earnings per share. The company earned $156.34 million during the quarter, compared to analysts’ expectations of $163.94 million. Covenant Transportation Group’s revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Covenant Transportation Group Inc. will post $1.22 EPS for the current year.

Other large investors have made changes to their positions in the company. Oxford Asset Management acquired a new stake in shares of Covenant Transportation Group during the fourth quarter valued at $1,346,000. Redwood Investments LLC increased its stake in shares of Covenant Transportation Group by 24.5% in the fourth quarter. Redwood Investments LLC now owns 84,388 shares of the company’s stock valued at $1,594,000 after buying an additional 16,630 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of 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 valued at $2,358,000 after buying an additional 745 shares during 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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