Insider Selling: Ralph H. Lovin, Jr. Sells 1,326 Shares of Covenant Transportation Group Stock (CVTI)
Covenant Transportation Group (NASDAQ:CVTI) VP Ralph H. Lovin, Jr. unloaded 1,326 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $13.53, for a total value of $17,940.78. Following the sale, the vice president now directly owns 85,089 shares of the company’s stock, valued at approximately $1,151,254. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Covenant Transportation Group from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $14.80 price target on the stock. Analysts at Avondale Partners upgraded shares of Covenant Transportation Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 19th. They now have a $4.50 price target on the stock, down previously from $12.00.
Covenant Transportation Group (NASDAQ:CVTI) remained flat at $13.87 during trading on Wednesday. The stock had a trading volume of 11,284 shares. Covenant Transportation Group has a 1-year low of $5.13 and a 1-year high of $14.00. The stock has a 50-day moving average of $12.7 and a 200-day moving average of $11.22. The company has a market cap of $207.4 million and a price-to-earnings ratio of 27.20.
Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.06. The company had revenue of $173.70 million for the quarter, compared to the consensus estimate of $170.87 million. During the same quarter last year, the company posted $0.13 earnings per share. Covenant Transportation Group’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that Covenant Transportation Group will post $0.60 earnings per share for the current fiscal year.
Covenant Transportation Group, Inc is a carrier for transportation companies, such as freight forwarders, less-than-truckload carriers, and third-party logistics providers that require a high level of service to support their businesses, as well as for traditional truckload customers, such as manufacturers, retailers, and food and beverage shippers.
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