Covenant Transportation Group, Inc. (NASDAQ:CVTI) VP Ralph H. Lovin, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $28.43, for a total value of $113,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Covenant Transportation Group, Inc. (CVTI) traded up 2.23% on Thursday, hitting $28.91. The company had a trading volume of 63,659 shares. The stock’s 50-day moving average price is $25.71 and its 200 day moving average price is $20.10. The company has a market capitalization of $528.68 million, a P/E ratio of 51.72 and a beta of 1.68. Covenant Transportation Group, Inc. has a one year low of $14.26 and a one year high of $29.58.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $164.30 million during the quarter, compared to analyst estimates of $158.40 million. Covenant Transportation Group had a return on equity of 4.65% and a net margin of 1.60%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. On average, analysts expect that Covenant Transportation Group, Inc. will post $0.72 EPS for the current fiscal year.

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A number of research analysts recently issued reports on CVTI shares. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Cowen and Company reiterated a “buy” rating and set a $24.00 price objective on shares of Covenant Transportation Group in a report on Monday, August 28th. Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $25.00 in a report on Monday, August 14th. BidaskClub upgraded Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.00.

Institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. increased its holdings in Covenant Transportation Group by 7.2% during the 1st quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock worth $137,000 after purchasing an additional 489 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Covenant Transportation Group by 11.9% during the 1st quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock worth $191,000 after purchasing an additional 1,080 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Covenant Transportation Group by 15.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock worth $191,000 after purchasing an additional 1,472 shares in the last quarter. Rhumbline Advisers increased its holdings in Covenant Transportation Group by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock worth $241,000 after purchasing an additional 760 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Covenant Transportation Group by 7.0% during the 4th quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock worth $373,000 after purchasing an additional 1,268 shares in the last quarter. 62.10% of the stock is owned by hedge funds and other institutional investors.

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.

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