Brokerages Set Covenant Transportation Group, Inc. (CVTI) Price Target at $28.00

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.00.

Several equities analysts have recently commented on CVTI shares. Zacks Investment Research lowered Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Stephens set a $31.00 price objective on Covenant Transportation Group and gave the company a “buy” rating in a report on Thursday, January 24th. BidaskClub upgraded Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Friday, January 25th. TheStreet downgraded Covenant Transportation Group from a “b-” rating to a “c+” rating in a report on Wednesday, December 26th. Finally, ValuEngine downgraded Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a report on Saturday, January 5th.

A number of hedge funds and other institutional investors have recently modified their holdings of CVTI. First Quadrant L P CA purchased a new position in shares of Covenant Transportation Group in the 4th quarter valued at about $253,000. Martingale Asset Management L P increased its holdings in shares of Covenant Transportation Group by 13.5% in the 4th quarter. Martingale Asset Management L P now owns 50,532 shares of the transportation company’s stock valued at $972,000 after acquiring an additional 6,001 shares during the last quarter. Ranger Investment Management L.P. increased its holdings in shares of Covenant Transportation Group by 33.2% in the 4th quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock valued at $4,161,000 after acquiring an additional 53,997 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of Covenant Transportation Group in the 3rd quarter valued at about $236,000. Finally, AQR Capital Management LLC increased its holdings in shares of Covenant Transportation Group by 16.4% in the 3rd quarter. AQR Capital Management LLC now owns 281,762 shares of the transportation company’s stock valued at $8,188,000 after acquiring an additional 39,600 shares during the last quarter. Institutional investors own 64.24% of the company’s stock.

NASDAQ CVTI traded down $0.06 on Wednesday, reaching $18.98. 253,241 shares of the company were exchanged, compared to its average volume of 133,698. The firm has a market capitalization of $349.73 million, a P/E ratio of 8.04 and a beta of 1.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.66. Covenant Transportation Group has a fifty-two week low of $18.13 and a fifty-two week high of $35.19.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.16. The company had revenue of $272.27 million for the quarter, compared to analyst estimates of $269.20 million. Covenant Transportation Group had a return on equity of 13.57% and a net margin of 4.80%. As a group, sell-side analysts forecast that Covenant Transportation Group will post 2.37 EPS for the current year.

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 long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

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