Somewhat Positive Press Coverage Somewhat Unlikely to Impact Covenant Transportation Group (CVTI) Stock Price

News stories about Covenant Transportation Group (NASDAQ:CVTI) have been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Covenant Transportation Group earned a news sentiment score of 0.02 on Accern’s scale. Accern also gave news coverage about the transportation company an impact score of 45.2400140212464 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Several brokerages have issued reports on CVTI. Cowen restated a “hold” rating and set a $25.50 price objective on shares of Covenant Transportation Group in a research report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, TheStreet upgraded shares of Covenant Transportation Group from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Covenant Transportation Group (CVTI) traded up $1.32 during midday trading on Friday, hitting $28.64. 203,200 shares of the stock were exchanged, compared to its average volume of 123,900. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.77. Covenant Transportation Group has a 52 week low of $15.86 and a 52 week high of $30.60. The firm has a market capitalization of $514.33, a P/E ratio of 43.39 and a beta of 1.68.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.30%. The company had revenue of $178.60 million during the quarter, compared to the consensus estimate of $170.10 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. research analysts predict that Covenant Transportation Group will post 0.9 earnings per share for the current year.

In other news, COO Samuel F. Hough sold 2,000 shares of Covenant Transportation Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the chief operating officer now directly owns 62,763 shares in the company, valued at $1,882,890. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman David Ray Parker sold 250,000 shares of Covenant Transportation Group stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 508,826 shares of company stock valued at $14,887,155. 35.20% of the stock is owned by company insiders.

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About Covenant Transportation Group

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.

Insider Buying and Selling by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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