Shares of Covenant Transportation Group Inc. (NASDAQ:CVTI) traded down 4.9% during mid-day trading on Thursday . The company traded as low as $18.87 and last traded at $18.94, with a volume of 109,957 shares changing hands. The stock had previously closed at $19.91.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Cowen and Company dropped their price target on Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, June 22nd. BB&T Corp. downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Finally, Stifel Nicolaus lifted their price target on 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.00.

The stock has a market capitalization of $344.59 million and a P/E ratio of 11.99. The firm has a 50 day moving average price of $20.85 and a 200-day moving average price of $21.28.

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

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 MarketBeat.com's FREE daily email newsletter.