Covenant Transportation Group, Inc. (CVTI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been given an average recommendation of “Hold” by the seven analysts that are covering the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.00.
Separately, TheStreet cut Covenant Transportation Group from a “b-” rating to a “c” rating in a research note on Thursday, April 20th.
Large investors have recently added to or reduced their stakes in the company. Scopus Asset Management L.P. acquired a new stake in Covenant Transportation Group during the third quarter valued at $2,459,000. Russell Investments Group Ltd. acquired a new stake in Covenant Transportation Group during the fourth quarter valued at $3,773,000. Guggenheim Capital LLC acquired a new stake in Covenant Transportation Group during the fourth quarter valued at $2,984,000. Cortina Asset Management LLC boosted its stake in Covenant Transportation Group by 1.8% in the fourth quarter. Cortina Asset Management LLC now owns 322,324 shares of the transportation company’s stock valued at $6,234,000 after buying an additional 5,792 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in Covenant Transportation Group during the fourth quarter valued at $1,547,000. Hedge funds and other institutional investors own 62.05% of the company’s stock.
Covenant Transportation Group (NASDAQ:CVTI) traded up 0.66% during trading on Friday, hitting $16.70. The company had a trading volume of 15,864 shares. The company has a market capitalization of $305.14 million, a price-to-earnings ratio of 24.67 and a beta of 1.25. The stock has a 50-day moving average of $17.92 and a 200 day moving average of $19.25. Covenant Transportation Group has a one year low of $14.26 and a one year high of $23.93.
Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, April 20th. The transportation company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Covenant Transportation Group had a return on equity of 7.49% and a net margin of 2.43%. The firm had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $154.90 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts forecast that Covenant Transportation Group will post $0.83 EPS for the current fiscal year.
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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.
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