Covenant Transportation Group, Inc. (NASDAQ:CVTI) – Investment analysts at Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for shares of Covenant Transportation Group in a report issued on Tuesday. Seaport Global Securities analyst R. Wood now expects that the transportation company will post earnings of $0.65 per share for the year, down from their prior estimate of $0.95. Seaport Global Securities also issued estimates for Covenant Transportation Group’s Q4 2017 earnings at $0.38 EPS, Q4 2018 earnings at $0.43 EPS and FY2018 earnings at $0.78 EPS.

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded Covenant Transportation Group from a “b-” rating to a “c” rating in a report on Thursday, April 20th. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.00.

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Shares of Covenant Transportation Group (NASDAQ:CVTI) opened at 17.81 on Thursday. The stock has a market cap of $325.42 million, a price-to-earnings ratio of 26.31 and a beta of 1.59. Covenant Transportation Group has a one year low of $14.26 and a one year high of $23.51. The company has a 50-day moving average of $17.98 and a 200 day moving average of $19.15.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $158.70 million during the quarter, compared to analyst estimates of $154.90 million. Covenant Transportation Group had a net margin of 1.92% and a return on equity of 5.65%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Covenant Transportation Group by 56.3% in the first quarter. Bank of America Corp DE now owns 40,854 shares of the transportation company’s stock valued at $767,000 after buying an additional 14,724 shares during the period. Weiss Multi Strategy Advisers LLC increased its position in Covenant Transportation Group by 128.5% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 177,118 shares of the transportation company’s stock valued at $3,330,000 after buying an additional 99,618 shares during the period. Kennedy Capital Management Inc. purchased a new position in Covenant Transportation Group during the first quarter valued at about $6,483,000. Geode Capital Management LLC increased its position in Covenant Transportation Group by 4.2% in the first quarter. Geode Capital Management LLC now owns 100,207 shares of the transportation company’s stock valued at $1,883,000 after buying an additional 4,068 shares during the period. Finally, Vanguard Group Inc. increased its position in Covenant Transportation Group by 12.7% in the first quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock valued at $9,887,000 after buying an additional 59,199 shares during the period. 63.06% of the stock is owned by institutional investors and hedge funds.

Covenant Transportation Group Company Profile

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.

Earnings History and Estimates for Covenant Transportation Group (NASDAQ:CVTI)

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