Analysts Set Covenant Transportation Group, Inc. (NASDAQ:CVTI) PT at $19.50

Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.50.

CVTI has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Wednesday, October 30th. BidaskClub upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Covenant Transportation Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, Cowen restated a “buy” rating and issued a $21.00 target price on shares of Covenant Transportation Group in a research report on Friday, October 18th.

Shares of CVTI stock traded down $0.28 on Thursday, reaching $15.14. The stock had a trading volume of 35,100 shares, compared to its average volume of 129,341. Covenant Transportation Group has a 12 month low of $13.27 and a 12 month high of $25.02. The company has a quick ratio of 1.67, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $291.45 million, a price-to-earnings ratio of 6.42 and a beta of 1.66. The firm’s 50-day moving average is $15.98 and its two-hundred day moving average is $15.88.

Covenant Transportation Group (NASDAQ:CVTI) last issued its earnings results on Tuesday, October 22nd. The transportation company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). Covenant Transportation Group had a net margin of 2.55% and a return on equity of 7.80%. The company had revenue of $222.91 million during the quarter, compared to analyst estimates of $209.50 million. On average, sell-side analysts forecast that Covenant Transportation Group will post 0.94 earnings per share for the current fiscal year.

In other Covenant Transportation Group news, COO James F. Brower, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $15.58, for a total value of $93,480.00. Following the sale, the chief operating officer now owns 58,581 shares in the company, valued at $912,691.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.60% of the company’s stock.

Several large investors have recently modified their holdings of CVTI. LSV Asset Management lifted its holdings in shares of Covenant Transportation Group by 91.8% during the second quarter. LSV Asset Management now owns 734,784 shares of the transportation company’s stock worth $10,808,000 after purchasing an additional 351,700 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Covenant Transportation Group during the second quarter worth $3,255,000. Russell Investments Group Ltd. lifted its holdings in shares of Covenant Transportation Group by 444.1% during the third quarter. Russell Investments Group Ltd. now owns 246,663 shares of the transportation company’s stock worth $4,055,000 after purchasing an additional 201,332 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Covenant Transportation Group by 143.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 232,952 shares of the transportation company’s stock worth $3,427,000 after purchasing an additional 137,233 shares during the period. Finally, Foundry Partners LLC acquired a new position in shares of Covenant Transportation Group during the third quarter worth $2,134,000. Institutional investors own 63.96% of the company’s stock.

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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