Covenant Transportation Group Inc. (NASDAQ:CVTI) has earned an average recommendation of “Hold” from the six analysts that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.25.
CVTI has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Covenant Transportation Group from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. BB&T Corp. cut shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd.
Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 24th. Finally, Cowen and Company dropped their price objective on shares of Covenant Transportation Group from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, July 29th.
Several large investors have recently bought and sold shares of CVTI. Dynamic Technology Lab Private Ltd purchased a new stake in Covenant Transportation Group during the second quarter valued at $187,000. Alambic Investment Management L.P. purchased a new stake in Covenant Transportation Group during the second quarter valued at $190,000. Rhumbline Advisers raised its stake in Covenant Transportation Group by 13.3% in the second quarter. Rhumbline Advisers now owns 11,857 shares of the company’s stock valued at $214,000 after buying an additional 1,390 shares during the last quarter. Cowen Group Inc. raised its stake in 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 last quarter. Finally, Palo Capital Inc. purchased a new stake in Covenant Transportation Group during the second quarter valued at $312,000. 65.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Covenant Transportation Group (NASDAQ:CVTI) opened at 18.06 on Monday. Covenant Transportation Group has a 52-week low of $13.60 and a 52-week high of $25.77. The firm’s 50 day moving average is $19.32 and its 200-day moving average is $20.78. The company has a market capitalization of $328.58 million, a P/E ratio of 11.43 and a beta of 0.66.
Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Wednesday, July 27th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm earned $158.80 million during the quarter, compared to analysts’ expectations of $156.62 million. Covenant Transportation Group had a net margin of 4.06% and a return on equity of 13.75%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. Equities research analysts anticipate that Covenant Transportation Group will post $1.17 earnings per share for the current fiscal year.
Covenant Transportation Group Company Profile
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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