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

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of brokerages have recently commented on CVTI. Cowen reaffirmed an “outperform” rating and set a $21.00 price target (down previously from $24.00) on shares of Covenant Transportation Group in a research report on Wednesday, July 17th. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Wolfe Research raised Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a research report on Friday, June 28th. Finally, BidaskClub raised Covenant Transportation Group from a “hold” rating to a “buy” rating in a research report on Friday.

CVTI stock traded up $0.34 during midday trading on Tuesday, hitting $14.90. The company’s stock had a trading volume of 105,363 shares, compared to its average volume of 134,019. Covenant Transportation Group has a 1 year low of $13.27 and a 1 year high of $32.34. The company has a current ratio of 1.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average is $14.73. The stock has a market cap of $286.17 million, a PE ratio of 6.31 and a beta of 1.56.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Covenant Transportation Group had a return on equity of 12.02% and a net margin of 4.05%. The firm had revenue of $219.30 million for the quarter, compared to analysts’ expectations of $220.05 million. Research analysts expect that Covenant Transportation Group will post 1.6 earnings per share for the current year.

In other news, Director Robert E. Bosworth purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $15.00 per share, with a total value of $75,000.00. Following the transaction, the director now directly owns 78,451 shares of the company’s stock, valued at $1,176,765. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 31.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in shares of Covenant Transportation Group during the 1st quarter valued at $47,000. BNP Paribas Arbitrage SA increased its stake in Covenant Transportation Group by 257.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,568 shares of the transportation company’s stock worth $49,000 after acquiring an additional 1,849 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in Covenant Transportation Group in the 4th quarter worth about $51,000. Metropolitan Life Insurance Co. NY increased its stake in Covenant Transportation Group by 400.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,441 shares of the transportation company’s stock worth $85,000 after acquiring an additional 3,554 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its stake in Covenant Transportation Group by 8.0% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 13,856 shares of the transportation company’s stock worth $204,000 after acquiring an additional 1,029 shares during the last quarter. Institutional investors own 65.61% of the company’s stock.

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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