Covenant Transportation Group Inc. (CVTI) Given “Buy” Rating at Cowen and Company
Covenant Transportation Group Inc. (NASDAQ:CVTI)‘s stock had its “buy” rating restated by stock analysts at Cowen and Company in a report issued on Friday.
CVTI has been the topic of a number of other research reports. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Stifel Nicolaus upped their target price on shares of Covenant Transportation Group from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, BB&T Corp. lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $26.00.
Covenant Transportation Group (NASDAQ:CVTI) opened at 14.85 on Friday. The company has a market cap of $270.18 million, a P/E ratio of 9.40 and a beta of 0.66. The stock’s 50 day moving average is $18.99 and its 200 day moving average is $20.64. Covenant Transportation Group has a 1-year low of $13.60 and a 1-year high of $25.77.
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Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Covenant Transportation Group had a net margin of 4.06% and a return on equity of 13.75%. The company had revenue of $158.80 million for the quarter, compared to analyst estimates of $156.62 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. Equities analysts anticipate that Covenant Transportation Group will post $1.17 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Covenant Transportation Group during the second quarter worth approximately $187,000. Alambic Investment Management L.P. bought a new position in Covenant Transportation Group during the second quarter worth approximately $190,000. Rhumbline Advisers boosted its position in Covenant Transportation Group by 13.3% in the second quarter. Rhumbline Advisers now owns 11,857 shares of the company’s stock worth $214,000 after buying an additional 1,390 shares in the last quarter. Cowen Group Inc. boosted its position in Covenant Transportation Group by 7.1% in the second quarter. Cowen Group Inc. now owns 15,000 shares of the company’s stock worth $271,000 after buying an additional 1,000 shares in the last quarter. Finally, Palo Capital Inc. bought a new position in Covenant Transportation Group during the second quarter worth approximately $312,000. 65.82% of the stock is owned by institutional investors and hedge funds.
Covenant Transportation Group Company Profile
Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.
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