Covenant Transportation Group, Inc. (NASDAQ:CVTI) Releases Earnings Results, Meets Estimates
Covenant Transportation Group, Inc. (NASDAQ:CVTI) announced its quarterly earnings data on Tuesday. The transportation company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08, Bloomberg Earnings reports. Covenant Transportation Group had a return on equity of 5.65% and a net margin of 1.92%. The firm had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $158.40 million. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.
Covenant Transportation Group (NASDAQ:CVTI) traded up 1.67% during mid-day trading on Tuesday, hitting $17.07. The company had a trading volume of 199,888 shares. The stock has a market capitalization of $311.90 million, a PE ratio of 25.21 and a beta of 1.66. Covenant Transportation Group has a 1-year low of $14.26 and a 1-year high of $23.51. The stock has a 50 day moving average price of $17.77 and a 200-day moving average price of $18.64.
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Several research firms recently issued reports on CVTI. TheStreet cut Covenant Transportation Group from a “b-” rating to a “c” rating in a research note on Thursday, April 20th. ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub cut Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.00.
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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