Brokerages forecast that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will report $0.23 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Covenant Transportation Group’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.34. Covenant Transportation Group reported earnings of $0.92 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 75%. The business is expected to issue its next earnings report on Wednesday, January 22nd.
On average, analysts expect that Covenant Transportation Group will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.88. For the next year, analysts expect that the company will post earnings of $1.13 per share, with EPS estimates ranging from $0.82 to $1.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Tuesday, October 22nd. The transportation company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.11). Covenant Transportation Group had a return on equity of 7.79% and a net margin of 2.55%. The firm had revenue of $222.91 million for the quarter, compared to the consensus estimate of $209.50 million.
A number of analysts recently commented on the company. Cowen reaffirmed a “buy” rating and set a $21.00 price target on shares of Covenant Transportation Group in a research report on Friday, October 18th. Zacks Investment Research cut Covenant Transportation Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Wednesday, October 30th. BidaskClub lowered Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Monday, November 25th. Finally, ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.33.
In other Covenant Transportation Group news, COO James F. Brower, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $15.58, for a total value of $93,480.00. Following the transaction, the chief operating officer now directly owns 58,581 shares in the company, valued at $912,691.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.60% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Covenant Transportation Group by 1,098.8% during the second quarter. Royal Bank of Canada now owns 1,966 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 1,802 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Covenant Transportation Group during the second quarter worth about $148,000. Jefferies Group LLC purchased a new position in shares of Covenant Transportation Group in the second quarter worth about $151,000. United Services Automobile Association increased its stake in shares of Covenant Transportation Group by 25.0% in the second quarter. United Services Automobile Association now owns 12,981 shares of the transportation company’s stock worth $191,000 after purchasing an additional 2,594 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Covenant Transportation Group in the second quarter worth about $212,000. 63.33% of the stock is owned by institutional investors and hedge funds.
Shares of CVTI stock traded down $0.07 during trading on Friday, hitting $12.69. The company’s stock had a trading volume of 3,688 shares, compared to its average volume of 95,200. The company has a market cap of $247.93 million, a PE ratio of 5.38 and a beta of 1.54. The company has a current ratio of 1.61, a quick ratio of 1.58 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $15.04 and a 200-day moving average of $15.27. Covenant Transportation Group has a 52 week low of $12.57 and a 52 week high of $24.99.
About Covenant Transportation Group
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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