Covenant Transportation Group (CVTI) Hits New 12-Month High and Low at $34.22

Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) reached a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $34.22 and last traded at $33.86, with a volume of 6124 shares. The stock had previously closed at $32.87.

CVTI has been the subject of a number of research analyst reports. ValuEngine raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. BidaskClub raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Stifel Nicolaus raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.00 in a research report on Thursday, April 26th. Cowen increased their target price on shares of Covenant Transportation Group from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 6th. Finally, Zacks Investment Research downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.60.

The stock has a market capitalization of $599.42 million, a PE ratio of 38.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.12 and a current ratio of 2.18.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $173.57 million during the quarter, compared to analysts’ expectations of $169.15 million. Covenant Transportation Group had a return on equity of 7.34% and a net margin of 8.32%. research analysts anticipate that Covenant Transportation Group, Inc. will post 1.92 earnings per share for the current year.

In other Covenant Transportation Group news, CEO David Ray Parker sold 15,653 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $35.04, for a total value of $548,481.12. Following the completion of the transaction, the chief executive officer now owns 114,443 shares in the company, valued at approximately $4,010,082.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the transaction, the vice president now owns 34,532 shares of the company’s stock, valued at approximately $1,139,556. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,462 shares of company stock valued at $8,208,237. 33.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Covenant Transportation Group in the 4th quarter worth approximately $166,000. Element Capital Management LLC purchased a new position in Covenant Transportation Group in the 1st quarter worth approximately $223,000. Cubist Systematic Strategies LLC purchased a new position in Covenant Transportation Group in the 1st quarter worth approximately $225,000. M&T Bank Corp purchased a new position in Covenant Transportation Group in the 1st quarter worth approximately $263,000. Finally, Koch Industries Inc. purchased a new position in Covenant Transportation Group in the 1st quarter worth approximately $277,000. Hedge funds and other institutional investors own 63.58% of the company’s stock.

About Covenant Transportation Group

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.

Receive News & Ratings for Covenant Transportation Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group and related companies with MarketBeat.com's FREE daily email newsletter.

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