Covenant Transportation Group (CVTI) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Covenant Transportation Group (NASDAQ:CVTI) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Covenant Transportation Group from a hold rating to a buy rating and set a $28.00 target price on the stock in a research report on Friday, October 26th. Cowen reduced their target price on shares of Covenant Transportation Group from $36.00 to $32.00 and set a market perform rating on the stock in a research report on Thursday, October 25th. BidaskClub downgraded shares of Covenant Transportation Group from a sell rating to a strong sell rating in a research report on Wednesday, October 24th. Wolfe Research downgraded shares of Covenant Transportation Group from a peer perform rating to an underperform rating in a research report on Friday, October 5th. Finally, Stephens reaffirmed a buy rating and issued a $35.00 target price on shares of Covenant Transportation Group in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Covenant Transportation Group currently has an average rating of Hold and an average target price of $34.20.

Shares of NASDAQ:CVTI traded up $0.16 during midday trading on Thursday, reaching $25.36. The company’s stock had a trading volume of 106,616 shares, compared to its average volume of 135,696. The company has a market capitalization of $465.18 million, a PE ratio of 13.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.84 and a quick ratio of 2.80. Covenant Transportation Group has a 12-month low of $23.51 and a 12-month high of $35.19.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Wednesday, October 24th. The transportation company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.05. The firm had revenue of $243.30 million for the quarter, compared to the consensus estimate of $237.85 million. Covenant Transportation Group had a net margin of 9.22% and a return on equity of 11.77%. Equities analysts anticipate that Covenant Transportation Group will post 2.21 EPS for the current fiscal year.

In related news, President Joey B. Hogan sold 7,300 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $30.01, for a total transaction of $219,073.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 35.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new stake in Covenant Transportation Group during the 2nd quarter valued at about $166,000. Meeder Asset Management Inc. boosted its holdings in shares of Covenant Transportation Group by 711.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,339 shares of the transportation company’s stock valued at $200,000 after acquiring an additional 5,558 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Covenant Transportation Group during the 1st quarter valued at about $225,000. Bailard Inc. purchased a new stake in shares of Covenant Transportation Group during the 2nd quarter valued at about $233,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Covenant Transportation Group by 31.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,788 shares of the transportation company’s stock valued at $340,000 after acquiring an additional 2,561 shares during the last quarter. 65.36% of the stock is currently owned by institutional investors.

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 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.

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Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

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