Covenant Transportation Group Inc. (NASDAQ:CVTI) shares saw unusually-strong trading volume on Monday . Approximately 269,627 shares changed hands during mid-day trading, an increase of 74% from the previous session’s volume of 154,717 shares.The stock last traded at $20.22 and had previously closed at $21.96.

A number of research analysts recently commented on CVTI shares. 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 increased their target price on shares of Covenant Transportation Group from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Stifel Nicolaus increased their target price 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. Finally, BB&T Corp. downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.00.

The stock has a 50-day moving average of $20.44 and a 200 day moving average of $21.31. The firm has a market cap of $367.88 million and a P/E ratio of 12.80.

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, topping the consensus estimate of $0.19 by $0.01. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $156.62 million. Covenant Transportation Group’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, analysts anticipate that Covenant Transportation Group Inc. will post $1.18 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Covenant Transportation Group stock. Redwood Investments LLC raised its stake in 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. The institutional investor 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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