Covenant Transportation Group, Inc. (NASDAQ:CVTI)‘s stock had its “hold” rating restated by research analysts at Cowen and Company in a note issued to investors on Tuesday. They presently have a $25.50 price target on the transportation company’s stock. Cowen and Company’s price target would indicate a potential downside of 11.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Covenant Transportation Group from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $25.00 in a research note on Monday, August 14th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.63.

Shares of Covenant Transportation Group (NASDAQ CVTI) remained flat at $28.89 during trading on Tuesday. 105,680 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $26.80 and a 200-day moving average of $20.65. Covenant Transportation Group has a 52-week low of $15.48 and a 52-week high of $30.60. The firm has a market cap of $528.31 million, a PE ratio of 51.68 and a beta of 1.68.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. The firm had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $170.10 million. Covenant Transportation Group had a return on equity of 5.35% and a net margin of 1.82%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Analysts predict that Covenant Transportation Group will post $0.81 earnings per share for the current year.

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In other Covenant Transportation Group news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,181,533.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,922 shares of company stock valued at $466,203. 35.20% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. raised its stake in Covenant Transportation Group by 7.2% in the first quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after buying an additional 489 shares during the last quarter. First Trust Advisors LP purchased a new stake in Covenant Transportation Group in the third quarter valued at about $277,000. Nationwide Fund Advisors raised its stake in Covenant Transportation Group by 11.9% in the first quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after buying an additional 1,080 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Covenant Transportation Group by 15.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock valued at $191,000 after buying an additional 1,472 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Covenant Transportation Group by 5.9% in the second quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock valued at $241,000 after buying an additional 760 shares during the last quarter. Institutional investors own 62.13% 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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