Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) hit a new 52-week high during trading on Monday . The stock traded as high as $24.74 and last traded at $24.74, with a volume of 209,966 shares. The stock had previously closed at $24.01.

Several analysts have commented on CVTI shares. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $25.00 in a report on Monday, August 14th. Finally, Cowen and Company restated a “buy” rating and set a $24.00 target price on shares of Covenant Transportation Group in a report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.00.

The company has a 50 day moving average of $20.08 and a 200 day moving average of $18.69. The company has a market cap of $456.44 million, a PE ratio of 44.65 and a beta of 1.61.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $158.40 million. Covenant Transportation Group had a return on equity of 4.65% and a net margin of 1.60%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Analysts anticipate that Covenant Transportation Group, Inc. will post $0.71 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. American International Group Inc. boosted its holdings in shares of Covenant Transportation Group by 7.2% during the 1st quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock worth $137,000 after buying an additional 489 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Covenant Transportation Group by 11.9% during the first quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock worth $191,000 after purchasing an additional 1,080 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Covenant Transportation Group by 15.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock worth $191,000 after purchasing an additional 1,472 shares during the period. Rhumbline Advisers raised its position in shares of Covenant Transportation Group by 5.9% during the second quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock worth $241,000 after purchasing an additional 760 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Covenant Transportation Group by 7.0% during the fourth quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock worth $373,000 after purchasing an additional 1,268 shares during the period. Hedge funds and other institutional investors own 62.13% of the company’s stock.

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About Covenant Transportation Group

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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