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Covenant Transportation Group (NASDAQ:CVTI) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.

Separately, analysts at Zacks downgraded shares of Covenant Transportation Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 18th. They now have a $13.00 price target on the stock.

Shares of Covenant Transportation Group (NASDAQ:CVTI) traded up 8.65% on Wednesday, hitting $10.68. 48,858 shares of the company’s stock traded hands. Covenant Transportation Group has a 52 week low of $5.13 and a 52 week high of $12.29. The stock has a 50-day moving average of $9.89 and a 200-day moving average of $9.11. The company has a market cap of $159.2 million and a price-to-earnings ratio of 25.34.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Tuesday, April 29th. The company reported ($0.09) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $0.01. The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $156.82 million. During the same quarter last year, the company posted ($0.13) earnings per share. Covenant Transportation Group’s revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Covenant Transportation Group will post $0.48 earnings per share for the current fiscal year.

Covenant Transportation Group, Inc is a carrier for transportation companies, such as freight forwarders, less-than-truckload carriers, and third-party logistics providers that require a high level of service to support their businesses, as well as for traditional truckload customers, such as manufacturers, retailers, and food and beverage shippers.

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