Equities analysts expect that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will report $0.34 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Covenant Transportation Group’s earnings. Covenant Transportation Group posted earnings per share of $0.54 during the same quarter last year, which would suggest a negative year over year growth rate of 37%. The business is scheduled to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that Covenant Transportation Group will report full year earnings of $1.62 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.85. For the next year, analysts anticipate that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.60 to $2.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $219.18 million during the quarter, compared to analysts’ expectations of $226.90 million. Covenant Transportation Group had a net margin of 4.57% and a return on equity of 13.27%.
A number of research firms have recently commented on CVTI. Stephens set a $112.00 target price on shares of Genesee & Wyoming and gave the stock a “hold” rating in a research note on Monday, July 1st. Wolfe Research raised shares of Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 28th. BidaskClub cut shares of Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. Finally, Cowen reissued a “buy” rating on shares of Alector in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.67.
In other Covenant Transportation Group news, Director Robert E. Bosworth acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average price of $15.00 per share, with a total value of $75,000.00. Following the purchase, the director now owns 78,451 shares in the company, valued at $1,176,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 31.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund grew its stake in Covenant Transportation Group by 1.8% during the 4th quarter. New York State Common Retirement Fund now owns 29,870 shares of the transportation company’s stock valued at $574,000 after acquiring an additional 522 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Covenant Transportation Group by 8.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 13,856 shares of the transportation company’s stock valued at $204,000 after acquiring an additional 1,029 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Covenant Transportation Group by 257.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,568 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 1,849 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Covenant Transportation Group by 16.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,664 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Covenant Transportation Group during the 1st quarter valued at about $47,000. 65.43% of the stock is owned by institutional investors.
Shares of CVTI stock traded up $0.30 on Monday, reaching $14.76. 100,295 shares of the company were exchanged, compared to its average volume of 177,055. The company has a market cap of $265.60 million, a P/E ratio of 6.05 and a beta of 1.57. The firm has a 50-day moving average of $14.64. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.67 and a current ratio of 1.70. Covenant Transportation Group has a 1 year low of $13.27 and a 1 year high of $32.34.
Covenant Transportation Group Company Profile
Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.
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