Covenant Transportation Group Inc. (NASDAQ:CVTI) dropped 1.7% on Monday . The company traded as low as $20.62 and last traded at $20.83, with a volume of 55,426 shares traded. The stock had previously closed at $21.18.

Several research analysts recently issued reports on CVTI shares. Stifel Nicolaus started coverage on Covenant Transportation Group in a research report on Wednesday, March 23rd. They set a “buy” rating and a $29.00 target price on the stock. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. BB&T Corp. lowered Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Finally, Cowen and Company upped their target price on Covenant Transportation Group from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Covenant Transportation Group currently has a consensus rating of “Hold” and an average target price of $28.20.

The stock has a market cap of $378.75 million and a price-to-earnings ratio of 10.68. The firm’s 50-day moving average price is $20.52 and its 200 day moving average price is $20.63.

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

A number of hedge funds and institutional investors recently added to or reduced their stakes in CVTI. Oxford Asset Management bought a new position in Covenant Transportation Group during the fourth quarter worth about $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 worth $1,594,000 after buying an additional 16,630 shares during the period. 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 worth $2,358,000 after buying an additional 745 shares during the period.

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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