News headlines about Covenant Transportation Group (NASDAQ:CVTI) have trended positive recently, Accern Sentiment reports. The research firm identifies negative and positive media coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Covenant Transportation Group earned a media sentiment score of 0.26 on Accern’s scale. Accern also assigned news coverage about the transportation company an impact score of 46.4281877711936 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Cowen and Company reaffirmed a “buy” rating and issued a $24.00 target price on shares of Covenant Transportation Group in a research report on Monday, August 28th. Stephens raised Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $25.00 in a research report on Monday, August 14th. Finally, ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.00.
Shares of Covenant Transportation Group (CVTI) traded up 2.23% during midday trading on Thursday, hitting $28.91. The stock had a trading volume of 63,659 shares. The firm has a 50-day moving average price of $25.71 and a 200-day moving average price of $20.10. The firm has a market cap of $528.68 million, a price-to-earnings ratio of 51.72 and a beta of 1.68. Covenant Transportation Group has a 1-year low of $14.26 and a 1-year high of $29.58.
Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Covenant Transportation Group had a return on equity of 4.65% and a net margin of 1.60%. The company had revenue of $164.30 million for the quarter, compared to the consensus estimate of $158.40 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Covenant Transportation Group will post $0.72 EPS for the current fiscal year.
In other Covenant Transportation Group news, President Joey B. Hogan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $25.03, for a total transaction of $125,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $25.48, for a total transaction of $227,332.56. Following the transaction, the vice president now owns 46,371 shares of the company’s stock, valued at approximately $1,181,533.08. The disclosure for this sale can be found here. 35.20% of the stock is owned by company insiders.
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About Covenant Transportation Group
Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.
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