Covenant Transportation Group, Inc. (NASDAQ:CVTI) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Thursday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Cowen and Company restated a “buy” rating and set a $24.00 price target on shares of Covenant Transportation Group in a report on Monday, August 28th. BidaskClub lowered shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $25.00 in a report on Monday, August 14th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.25.

Covenant Transportation Group (CVTI) opened at 27.34 on Thursday. The firm has a market capitalization of $499.97 million, a price-to-earnings ratio of 48.91 and a beta of 1.68. The stock’s 50 day moving average is $26.68 and its 200-day moving average is $20.54. Covenant Transportation Group has a 12 month low of $15.85 and a 12 month high of $30.61.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.35%. The firm had revenue of $178.60 million during the quarter, compared to analyst estimates of $170.10 million. During the same quarter last year, the business earned $0.16 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Covenant Transportation Group will post $0.72 earnings per share for the current fiscal year.

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In other news, VP Ralph H. Lovin, Jr. sold 8,922 shares of Covenant Transportation Group stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.48, for a total value of $227,332.56. Following the completion of the sale, the vice president now owns 46,371 shares in the company, valued at approximately $1,181,533.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 4,000 shares of Covenant Transportation Group stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $28.43, for a total transaction of $113,720.00. The disclosure for this sale can be found here. Insiders sold a total of 17,922 shares of company stock valued at $466,203 in the last quarter. 35.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Covenant Transportation Group by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,362,865 shares of the transportation company’s stock valued at $24,627,000 after purchasing an additional 29,064 shares in the last quarter. Copper Rock Capital Partners LLC increased its stake in Covenant Transportation Group by 1.6% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 1,029,263 shares of the transportation company’s stock valued at $18,599,000 after purchasing an additional 16,005 shares in the last quarter. Waddell & Reed Financial Inc. increased its stake in Covenant Transportation Group by 52.1% during the 4th quarter. Waddell & Reed Financial Inc. now owns 774,400 shares of the transportation company’s stock valued at $14,628,000 after purchasing an additional 265,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 in the last quarter. Institutional investors own 62.10% of the company’s stock.

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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