Covenant Transportation Group, Inc. (CVTI) Given Average Rating of “Hold” by Analysts

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.67.

A number of equities research analysts have weighed in on CVTI shares. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Cowen and Company downgraded shares of Covenant Transportation Group from an “outperform” rating to a “market perform” rating in a research note on Monday. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.00 in a research note on Monday, August 14th. Finally, BidaskClub upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd.

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Shares of Covenant Transportation Group (NASDAQ CVTI) opened at 26.63 on Wednesday. The company has a 50-day moving average of $26.26 and a 200 day moving average of $20.26. Covenant Transportation Group has a 12-month low of $14.66 and a 12-month high of $29.58. The firm has a market capitalization of $486.98 million, a PE ratio of 47.64 and a beta of 1.68.

Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The business had revenue of $164.30 million for the quarter, compared to the consensus estimate of $158.40 million. During the same quarter last year, the company posted $0.20 earnings per share. Covenant Transportation Group’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Covenant Transportation Group will post $0.72 EPS for the current year.

In other Covenant Transportation Group news, VP Ralph H. Lovin, Jr. sold 8,922 shares of Covenant Transportation Group stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $25.48, for a total transaction of $227,332.56. Following the completion of the transaction, the vice president now directly owns 46,371 shares of the company’s stock, valued at $1,181,533.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 4,000 shares of Covenant Transportation Group stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $28.43, for a total value of $113,720.00. The disclosure for this sale can be found here. Insiders have sold 17,922 shares of company stock worth $466,203 in the last quarter. Corporate insiders own 35.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in shares of Covenant Transportation Group by 0.3% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 97,029 shares of the transportation company’s stock valued at $1,701,000 after acquiring an additional 303 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Covenant Transportation Group by 1.0% during the second quarter. TIAA CREF Investment Management LLC now owns 32,530 shares of the transportation company’s stock valued at $570,000 after acquiring an additional 312 shares during the period. American International Group Inc. lifted its holdings in shares of Covenant Transportation Group by 7.2% during the first quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 489 shares during the period. Horrell Capital Management Inc. lifted its holdings in shares of Covenant Transportation Group by 2.5% during the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the transportation company’s stock valued at $490,000 after acquiring an additional 681 shares during the period. Finally, Rhumbline Advisers lifted its holdings 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 valued at $241,000 after acquiring an additional 760 shares during the period. 62.10% of the stock is owned by institutional investors.

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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