Covenant Transportation Group Inc. (NASDAQ:CVTI) was up 2.3% on Wednesday . The stock traded as high as $20.24 and last traded at $20.14, with a volume of 93,466 shares changing hands. The stock had previously closed at $19.68.

Several equities research analysts recently weighed in on CVTI shares. Cowen and Company raised their price target 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. Zacks Investment Research downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. 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.
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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $27.00.

The company has a market capitalization of $362.61 million and a price-to-earnings ratio of 12.61. The company has a 50 day moving average price of $20.62 and a 200-day moving average price of $21.30.

Covenant Transportation Group (NASDAQ:CVTI) last issued its earnings results on Wednesday, July 27th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company earned $158.80 million during the quarter, compared to the consensus estimate of $156.62 million. Covenant Transportation Group’s revenue was down 9.5% on a year-over-year basis. On average, analysts expect that Covenant Transportation Group Inc. will post $1.18 earnings per share for the current year.

An institutional investor recently raised its position in Covenant Transportation Group stock. Redwood Investments LLC increased its position in Covenant Transportation Group Inc. (NASDAQ:CVTI) by 24.5% during the fourth quarter, according to its most recent 13F filing 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 approximately 0.47% of Covenant Transportation Group worth $1,594,000 as of its most recent filing with the SEC.

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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