Covenant Transportation Group Inc. (NASDAQ:CVTI) fell 2.6% on Friday . The company traded as low as $21.93 and last traded at $21.96, with a volume of 97,131 shares. The stock had previously closed at $22.54.

A number of research firms have recently weighed in on CVTI. Cowen and Company dropped their target price 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. Zacks Investment Research downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Stifel Nicolaus upped their price objective on Covenant Transportation Group from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, BB&T Corp. downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $27.00.

The company has a market capitalization of $399.54 million and a price-to-earnings ratio of 13.90. The company’s 50 day moving average price is $20.38 and its 200-day moving average price is $21.24.

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

A hedge fund recently raised its stake in Covenant Transportation Group stock. Redwood Investments LLC raised 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 Securities and Exchange Commission. The fund 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 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.

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.