Covenant Transportation Group, Inc. (NASDAQ:CVTI) Receives Consensus Recommendation of “Hold” from Brokerages

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $23.00.

CVTI has been the topic of several research analyst reports. ValuEngine raised shares of ZEALAND PHARMA/S from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Stephens set a $112.00 target price on shares of Genesee & Wyoming and gave the stock a “hold” rating in a research report on Monday, July 1st. Zacks Investment Research lowered shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, June 17th. Wolfe Research upgraded shares of Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a research report on Friday, June 28th. Finally, BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday.

In related news, Director Robert E. Bosworth bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average cost of $15.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now owns 78,451 shares of the company’s stock, valued at $1,176,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 31.60% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in CVTI. BlackRock Inc. boosted its position in Covenant Transportation Group by 7.8% during the fourth quarter. BlackRock Inc. now owns 1,008,481 shares of the transportation company’s stock valued at $19,361,000 after buying an additional 72,933 shares during the period. LSV Asset Management boosted its position in Covenant Transportation Group by 289.6% during the first quarter. LSV Asset Management now owns 383,084 shares of the transportation company’s stock valued at $7,270,000 after buying an additional 284,748 shares during the period. Ranger Investment Management L.P. boosted its position in Covenant Transportation Group by 33.2% during the fourth quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock valued at $4,161,000 after buying an additional 53,997 shares during the period. Two Sigma Advisers LP boosted its position in Covenant Transportation Group by 10.2% during the fourth quarter. Two Sigma Advisers LP now owns 194,962 shares of the transportation company’s stock valued at $3,743,000 after buying an additional 18,000 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its position in Covenant Transportation Group by 30.5% during the fourth quarter. Penn Capital Management Co. Inc. now owns 175,698 shares of the transportation company’s stock valued at $3,373,000 after buying an additional 41,102 shares during the period. Institutional investors own 65.35% of the company’s stock.

Shares of Covenant Transportation Group stock traded up $0.13 during trading on Friday, hitting $13.62. The stock had a trading volume of 477,474 shares, compared to its average volume of 130,785. The stock has a market capitalization of $256.97 million, a price-to-earnings ratio of 5.77 and a beta of 1.57. Covenant Transportation Group has a 12 month low of $13.27 and a 12 month high of $32.34. The company’s 50-day moving average price is $14.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.67 and a current ratio of 1.70.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $219.18 million for the quarter, compared to analysts’ expectations of $226.90 million. Covenant Transportation Group had a net margin of 4.57% and a return on equity of 13.27%. On average, sell-side analysts expect that Covenant Transportation Group will post 1.95 earnings per share for the current fiscal year.

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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