Covenant Transportation Group (CVTI) Lifted to Strong-Buy at BidaskClub

Covenant Transportation Group (NASDAQ:CVTI) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

CVTI has been the topic of a number of other research reports. Zacks Investment Research raised Covenant Transportation Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Monday, October 16th. Cowen reaffirmed a “hold” rating and issued a $25.50 price target on shares of Covenant Transportation Group in a research report on Tuesday, October 24th. ValuEngine lowered Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet raised Covenant Transportation Group from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Finally, Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.00 in a report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.63.

Shares of Covenant Transportation Group (NASDAQ CVTI) opened at $29.86 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.62. The stock has a market capitalization of $540.29, a PE ratio of 42.81 and a beta of 1.67. Covenant Transportation Group has a 12-month low of $15.86 and a 12-month high of $30.60.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. The company had revenue of $178.60 million for the quarter, compared to analyst estimates of $170.10 million. Covenant Transportation Group had a return on equity of 5.30% and a net margin of 1.82%. Covenant Transportation Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. equities research analysts expect that Covenant Transportation Group will post 0.9 earnings per share for the current fiscal year.

In other news, VP Ralph H. Lovin, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $28.43, for a total value of $113,720.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Ray Parker sold 29,255 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $30.01, for a total value of $877,942.55. Following the completion of the transaction, the chief executive officer now owns 110,580 shares in the company, valued at approximately $3,318,505.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 502,826 shares of company stock worth $14,700,675. Company insiders own 35.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVTI. Macquarie Group Ltd. purchased a new position in Covenant Transportation Group during the 3rd quarter worth approximately $113,000. The Manufacturers Life Insurance Company grew its stake in Covenant Transportation Group by 15.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock worth $191,000 after buying an additional 1,472 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Covenant Transportation Group during the 3rd quarter worth approximately $217,000. Brandes Investment Partners LP purchased a new position in Covenant Transportation Group during the 3rd quarter worth approximately $219,000. Finally, Highbridge Capital Management LLC purchased a new position in Covenant Transportation Group during the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 63.29% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Covenant Transportation Group (CVTI) Lifted to Strong-Buy at BidaskClub” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/07/covenant-transportation-group-cvti-lifted-to-strong-buy-at-bidaskclub.html.

Covenant Transportation Group Company Profile

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.

What are top analysts saying about Covenant Transportation Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Covenant Transportation Group Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit