News articles about Covenant Transportation Group (NASDAQ:CVTI) have trended somewhat positive on Friday, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Covenant Transportation Group earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned news stories about the transportation company an impact score of 45.9860200009205 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
A number of equities research analysts recently weighed in on the company. BidaskClub cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Zacks Investment Research cut Covenant Transportation Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. Seaport Global Securities restated a “neutral” rating on shares of Covenant Transportation Group in a report on Tuesday, January 30th. ValuEngine cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Cowen restated a “market perform” rating and set a $30.00 price objective (up previously from $25.50) on shares of Covenant Transportation Group in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Covenant Transportation Group presently has a consensus rating of “Hold” and a consensus target price of $29.67.
Shares of Covenant Transportation Group (CVTI) traded up $0.81 on Friday, hitting $26.86. The company had a trading volume of 174,600 shares, compared to its average volume of 160,389. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The stock has a market cap of $476.45, a price-to-earnings ratio of 8.84 and a beta of 1.56. Covenant Transportation Group has a twelve month low of $15.86 and a twelve month high of $30.60.
Covenant Transportation Group (NASDAQ:CVTI) last issued its earnings results on Monday, January 29th. The transportation company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $203.31 million during the quarter, compared to analysts’ expectations of $202.40 million. Covenant Transportation Group had a return on equity of 6.63% and a net margin of 7.94%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. equities research analysts forecast that Covenant Transportation Group will post 1.68 EPS for the current year.
In related news, CEO David Ray Parker sold 29,255 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $30.01, for a total value of $877,942.55. Following the transaction, the chief executive officer now directly owns 110,580 shares of the company’s stock, valued at approximately $3,318,505.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 95,483 shares of company stock worth $2,865,803 over the last ninety days. Corporate insiders own 35.20% of the company’s stock.
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Covenant Transportation Group Company Profile
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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