Covenant Transportation Group (NASDAQ:CVTI) Announces Earnings Results, Beats Estimates By $0.05 EPS

Covenant Transportation Group (NASDAQ:CVTI) issued its quarterly earnings results on Thursday. The transportation company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05, Fidelity Earnings reports. The firm had revenue of $233.14 million during the quarter, compared to the consensus estimate of $225.20 million. Covenant Transportation Group had a return on equity of 7.79% and a net margin of 2.55%.

CVTI traded up $0.89 during trading hours on Friday, hitting $13.80. The company’s stock had a trading volume of 11,938 shares, compared to its average volume of 136,496. Covenant Transportation Group has a fifty-two week low of $12.35 and a fifty-two week high of $24.99. The company has a current ratio of 1.61, a quick ratio of 1.58 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $238.32 million, a PE ratio of 10.70 and a beta of 1.53. The company has a 50-day simple moving average of $13.17 and a 200 day simple moving average of $14.71.

In related 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 stock was sold at an average price of $15.58, for a total value of $93,480.00. Following the sale, the chief operating officer now directly owns 58,581 shares in the company, valued at approximately $912,691.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 31.60% of the stock is owned by company insiders.

Several brokerages have issued reports on CVTI. Zacks Investment Research cut Covenant Transportation Group from a “hold” rating to a “strong sell” rating in a research note on Friday, January 17th. Wolfe Research upgraded Covenant Transportation Group from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. BidaskClub upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stifel Nicolaus cut Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Wednesday, October 30th. Finally, ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.33.

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 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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Earnings History for Covenant Transportation Group (NASDAQ:CVTI)

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