Covenant Transportation Group Inc. (NASDAQ:CVTI)’s share price traded down 2.6% during mid-day trading on Friday . The company traded as low as $21.93 and last traded at $21.96, with a volume of 97,131 shares traded. The stock had previously closed at $22.54.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Cowen and Company cut their price objective on shares of Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 22nd. BB&T Corp. cut shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Finally, Stifel Nicolaus raised their price target on shares of Covenant Transportation Group from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Covenant Transportation Group presently has a consensus rating of “Buy” and an average price target of $27.00.

The firm has a market cap of $399.30 million and a price-to-earnings ratio of 13.90. The firm’s 50-day moving average is $20.38 and its 200 day moving average is $21.24.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm earned $158.80 million during the quarter, compared to analysts’ expectations of $156.62 million. During the same quarter in the previous year, the firm posted $0.60 EPS. Covenant Transportation Group’s revenue was down 9.5% compared to the same quarter last year. Equities analysts expect that Covenant Transportation Group Inc. will post $1.20 earnings per share for the current year.

A hedge fund recently raised its stake in Covenant Transportation Group stock. Redwood Investments LLC boosted its position in shares of Covenant Transportation Group Inc. (NASDAQ:CVTI) by 24.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 84,388 shares of the company’s stock after buying an additional 16,630 shares during the period. Redwood Investments LLC owned about 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.

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