Covenant Transportation Group Inc. (NASDAQ:CVTI) dropped 3.6% on Monday . The stock traded as low as $20.34 and last traded at $20.35, with a volume of 57,942 shares. The stock had previously closed at $21.11.

CVTI has been the subject of several recent research reports. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. Cowen and Company lifted their price objective on Covenant Transportation Group from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. Finally, BB&T Corp. lowered Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Covenant Transportation Group presently has an average rating of “Hold” and a consensus target price of $28.20.

The company has a market capitalization of $368.93 million and a price-to-earnings ratio of 10.40. The firm’s 50-day moving average price is $20.35 and its 200-day moving average price is $20.70.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Wednesday, April 27th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. During the same period in the previous year, the company earned $0.30 EPS. The firm had revenue of $156.34 million for the quarter, compared to analyst estimates of $163.94 million. Covenant Transportation Group’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts expect that Covenant Transportation Group Inc. will post $1.22 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Covenant Transportation Group stock. Redwood Investments LLC increased its position in shares of Covenant Transportation Group Inc. (NASDAQ:CVTI) by 24.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,388 shares of the company’s stock after buying an additional 16,630 shares during the period. Redwood Investments LLC owned approximately 0.47% of Covenant Transportation Group worth $1,594,000 as of its most recent SEC filing.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.