Covenant Transportation Group (CVTI) Cut to “Sell” at BidaskClub

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BidaskClub lowered shares of Covenant Transportation Group (NASDAQ:CVTI) from a hold rating to a sell rating in a research report report published on Tuesday.

A number of other brokerages have also recently commented on CVTI. Zacks Investment Research raised Covenant Transportation Group from a hold rating to a buy rating and set a $37.00 target price on the stock in a report on Tuesday, June 12th. ValuEngine cut Covenant Transportation Group from a strong-buy rating to a buy rating in a report on Monday, July 2nd. Wolfe Research cut Covenant Transportation Group from a peer perform rating to an underperform rating in a report on Friday, October 5th. Finally, Stephens reissued a buy rating and set a $35.00 price target on shares of Covenant Transportation Group in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Covenant Transportation Group currently has an average rating of Hold and an average price target of $36.60.

Covenant Transportation Group stock traded down $0.29 during trading on Tuesday, reaching $25.16. The company had a trading volume of 145,146 shares, compared to its average volume of 167,556. Covenant Transportation Group has a 52 week low of $24.79 and a 52 week high of $35.19. The stock has a market cap of $533.05 million, a P/E ratio of 29.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.80 and a current ratio of 2.84.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Wednesday, July 25th. The transportation company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. Covenant Transportation Group had a return on equity of 9.77% and a net margin of 9.09%. The company had revenue of $196.32 million for the quarter, compared to analysts’ expectations of $199.25 million. Analysts predict that Covenant Transportation Group will post 2.13 EPS for the current year.

In other Covenant Transportation Group news, President Joey B. Hogan sold 7,300 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $30.01, for a total transaction of $219,073.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 33.10% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new stake in Covenant Transportation Group during the second quarter valued at about $166,000. Meeder Asset Management Inc. raised its holdings in Covenant Transportation Group by 711.7% during the second quarter. Meeder Asset Management Inc. now owns 6,339 shares of the transportation company’s stock valued at $200,000 after acquiring an additional 5,558 shares during the period. Element Capital Management LLC bought a new stake in Covenant Transportation Group during the first quarter valued at about $223,000. Cubist Systematic Strategies LLC bought a new stake in Covenant Transportation Group during the first quarter valued at about $225,000. Finally, Bailard Inc. bought a new stake in Covenant Transportation Group during the second quarter valued at about $233,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

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 long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

See Also: Intrinsic Value

Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

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