Covenant Transportation Group Inc. (NASDAQ:CVTI) shot up 6.9% on Friday . The stock traded as high as $21.74 and last traded at $21.20, with a volume of 160,644 shares. The stock had previously closed at $19.83.

Several brokerages recently weighed in on CVTI. Zacks Investment Research raised Covenant Transportation Group from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, March 29th. Cowen and Company dropped their target price on Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, June 22nd. Finally, BB&T Corp. downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.20.

The firm has a market cap of $383.84 million and a PE ratio of 10.82. The stock’s 50-day moving average price is $20.40 and its 200 day moving average price is $20.64.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.21. The business had revenue of $156.34 million for the quarter, compared to the consensus estimate of $163.94 million. During the same period in the prior year, the business posted $0.30 earnings per share. Covenant Transportation Group’s revenue was down 6.5% on a year-over-year basis. On average, analysts predict that Covenant Transportation Group Inc. will post $1.22 EPS for the current year.

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

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.