Covenant Transportation Group, Inc. (CVTI) Receives Average Recommendation of “Hold” from Analysts
Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.00.
Several research firms have commented on CVTI. TheStreet cut Covenant Transportation Group from a “b-” rating to a “c” rating in a report on Thursday, April 20th. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
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Shares of Covenant Transportation Group (CVTI) traded up 0.70% on Tuesday, hitting $18.77. 28,531 shares of the stock traded hands. The firm’s 50 day moving average is $17.98 and its 200-day moving average is $19.23. The company has a market cap of $342.97 million, a PE ratio of 27.73 and a beta of 1.59. Covenant Transportation Group has a 12 month low of $14.26 and a 12 month high of $23.93.
Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $154.90 million. Covenant Transportation Group had a return on equity of 5.65% and a net margin of 1.92%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Equities analysts predict that Covenant Transportation Group will post $0.83 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in CVTI. Russell Investments Group Ltd. purchased a new position in Covenant Transportation Group during the fourth quarter valued at $3,773,000. State Street Corp raised its position in Covenant Transportation Group by 4.9% in the fourth quarter. State Street Corp now owns 174,881 shares of the transportation company’s stock valued at $3,380,000 after buying an additional 8,215 shares in the last quarter. FMR LLC raised its position in Covenant Transportation Group by 31.1% in the fourth quarter. FMR LLC now owns 461,300 shares of the transportation company’s stock valued at $8,921,000 after buying an additional 109,300 shares in the last quarter. Cortina Asset Management LLC raised its position 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 in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Covenant Transportation Group during the fourth quarter valued at $350,000. 63.14% of the stock is currently owned by institutional investors and hedge funds.
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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