Covenant Transportation Group, Inc. (NASDAQ:CVTI) has earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several research firms have commented on CVTI. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Cowen and Company reaffirmed a “buy” rating and set a $24.00 price target on shares of Covenant Transportation Group in a report on Monday, August 28th. Finally, Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $25.00 in a report on Monday, August 14th.

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In related news, President Joey B. Hogan sold 5,000 shares of Covenant Transportation Group stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $25.03, for a total transaction of $125,150.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of Covenant Transportation Group stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $25.48, for a total transaction of $227,332.56. Following the sale, the vice president now directly owns 46,371 shares in the company, valued at $1,181,533.08. The disclosure for this sale can be found here. Insiders own 35.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in shares of Covenant Transportation Group by 11.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,480,296 shares of the transportation company’s stock valued at $25,950,000 after purchasing an additional 153,410 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Covenant Transportation Group by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 539,993 shares of the transportation company’s stock valued at $9,467,000 after purchasing an additional 14,150 shares during the last quarter. FMR LLC grew its holdings in shares of Covenant Transportation Group by 0.4% during the 1st quarter. FMR LLC now owns 463,000 shares of the transportation company’s stock valued at $8,704,000 after purchasing an additional 1,700 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Covenant Transportation Group by 194.1% during the 1st quarter. Wellington Management Group LLP now owns 373,626 shares of the transportation company’s stock valued at $7,024,000 after purchasing an additional 246,585 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Covenant Transportation Group during the 1st quarter valued at approximately $6,483,000. 62.10% of the stock is currently owned by institutional investors.

Covenant Transportation Group (NASDAQ:CVTI) opened at 26.16 on Friday. Covenant Transportation Group has a 12 month low of $14.26 and a 12 month high of $26.49. The firm has a market capitalization of $478.39 million, a price-to-earnings ratio of 46.80 and a beta of 1.61. The stock’s 50 day moving average is $22.32 and its 200-day moving average is $19.08.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Tuesday, July 25th. The transportation company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $158.40 million. During the same period last year, the firm earned $0.20 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Covenant Transportation Group will post $0.71 earnings per share for the current fiscal year.

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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