Covenant Transportation Group (NASDAQ:CVTI) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Covenant Transportation Group (NASDAQ:CVTI) from a sell rating to a hold rating in a research report sent to investors on Friday, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Covenant Transportation Group from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research note on Wednesday, October 30th. Zacks Investment Research upgraded shares of Covenant Transportation Group from a sell rating to a hold rating in a research note on Tuesday, January 7th. ValuEngine upgraded shares of Covenant Transportation Group from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of Covenant Transportation Group from a peer perform rating to an outperform rating in a research note on Tuesday, January 7th. Finally, Cowen reiterated a buy rating and set a $21.00 price objective on shares of Covenant Transportation Group in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $21.33.

Covenant Transportation Group stock opened at $14.02 on Friday. Covenant Transportation Group has a 1 year low of $12.35 and a 1 year high of $24.99. The firm has a 50 day moving average price of $13.15 and a 200 day moving average price of $14.73. The company has a market cap of $258.82 million, a price-to-earnings ratio of 10.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.58 and a current ratio of 1.61.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.11). Covenant Transportation Group had a return on equity of 7.79% and a net margin of 2.55%. The business had revenue of $222.91 million for the quarter, compared to analysts’ expectations of $209.50 million. Sell-side analysts predict that Covenant Transportation Group will post 0.65 EPS for the current year.

In other Covenant Transportation Group news, COO James F. Brower, Jr. sold 6,000 shares of the business’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 transaction of $93,480.00. Following the completion of the sale, the chief operating officer now directly owns 58,581 shares in the company, valued at $912,691.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 31.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CVTI. Charles Schwab Investment Management Inc. lifted its position in shares of Covenant Transportation Group by 5.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 28,593 shares of the transportation company’s stock worth $421,000 after purchasing an additional 1,515 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Covenant Transportation Group by 48.0% during the second quarter. Parametric Portfolio Associates LLC now owns 16,480 shares of the transportation company’s stock worth $242,000 after purchasing an additional 5,343 shares in the last quarter. BlackRock Inc. lifted its position in shares of Covenant Transportation Group by 2.7% during the second quarter. BlackRock Inc. now owns 1,109,393 shares of the transportation company’s stock worth $16,321,000 after purchasing an additional 28,689 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Covenant Transportation Group during the second quarter worth $148,000. Finally, Vanguard Group Inc. lifted its position in shares of Covenant Transportation Group by 3.1% during the second quarter. Vanguard Group Inc. now owns 663,466 shares of the transportation company’s stock worth $9,759,000 after purchasing an additional 20,097 shares in the last quarter. 63.55% of the stock is currently owned by institutional investors and hedge funds.

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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