According to Zacks, “Covenant Transport, Inc. is a truckload carrier that offers just-in-time and other premium transportation service for customers throughout the United States. “
Other equities research analysts have also issued research reports about the company. Cowen and Company cut their target price on Covenant Transportation Group from $34.00 to $30.00 and set an outperform rating on the stock in a research report on Wednesday, June 22nd. BB&T Corp. downgraded Covenant Transportation Group from a buy rating to a hold rating in a research note on Wednesday, June 22nd.
Finally, Stifel Nicolaus upped their price target on Covenant Transportation Group from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Covenant Transportation Group currently has a consensus rating of Hold and an average target price of $27.00.
Covenant Transportation Group (NASDAQ:CVTI) opened at 18.56 on Tuesday. Covenant Transportation Group has a 52 week low of $13.60 and a 52 week high of $25.77. The company has a market capitalization of $337.68 million, a P/E ratio of 11.75 and a beta of 0.94. The stock’s 50 day moving average price is $19.93 and its 200 day moving average price is $20.89.
Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Wednesday, July 27th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Covenant Transportation Group had a return on equity of 13.75% and a net margin of 4.06%. The company had revenue of $158.80 million for the quarter, compared to analyst estimates of $156.62 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. Analysts anticipate that Covenant Transportation Group will post $1.18 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new stake in shares of Covenant Transportation Group during the second quarter valued at approximately $190,000. K.J. Harrison & Partners Inc bought a new stake in shares of Covenant Transportation Group during the second quarter valued at approximately $361,000. Cowen Group Inc. increased its stake in shares of Covenant Transportation Group by 7.1% in the second quarter. Cowen Group Inc. now owns 15,000 shares of the company’s stock valued at $271,000 after buying an additional 1,000 shares during the period. GSA Capital Partners LLP increased its stake in shares of Covenant Transportation Group by 29.6% in the second quarter. GSA Capital Partners LLP now owns 68,738 shares of the company’s stock valued at $1,242,000 after buying an additional 15,700 shares during the period. Finally, Strs Ohio increased its stake in shares of Covenant Transportation Group by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock valued at $480,000 after buying an additional 2,100 shares during the period. 65.82% of the stock is owned by hedge funds and other institutional investors.
About Covenant Transportation Group
Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.
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