Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $29.67.
A number of research firms recently issued reports on CVTI. Seaport Global Securities reissued a “neutral” rating on shares of Covenant Transportation Group in a research report on Tuesday, January 30th. Zacks Investment Research raised Covenant Transportation Group from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, February 2nd. BidaskClub raised Covenant Transportation Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Cowen reissued a “market perform” rating and set a $30.00 price objective (up previously from $25.50) on shares of Covenant Transportation Group in a research report on Tuesday, January 30th. Finally, ValuEngine cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
In related news, Chairman David Ray Parker sold 30,455 shares of Covenant Transportation Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $30.01, for a total transaction of $913,954.55. Following the completion of the sale, the chairman now owns 110,580 shares of the company’s stock, valued at $3,318,505.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 95,483 shares of company stock valued at $2,865,803. Insiders own 35.20% of the company’s stock.
Shares of Covenant Transportation Group (NASDAQ:CVTI) traded up $0.81 during mid-day trading on Tuesday, hitting $26.86. The stock had a trading volume of 174,600 shares, compared to its average volume of 161,143. Covenant Transportation Group has a twelve month low of $15.86 and a twelve month high of $30.60. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $476.45, a P/E ratio of 8.84 and a beta of 1.56.
Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Monday, January 29th. The transportation company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Covenant Transportation Group had a net margin of 7.94% and a return on equity of 6.63%. The business had revenue of $203.31 million for the quarter, compared to analysts’ expectations of $202.40 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. analysts anticipate that Covenant Transportation Group will post 1.68 EPS for the current fiscal year.
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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