Covenant Transportation Group (NASDAQ:CVTI) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. TheStreet upgraded Covenant Transportation Group from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. Cowen restated a “buy” rating and set a $24.00 price objective on shares of Covenant Transportation Group in a research note on Monday, August 28th. ValuEngine cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $25.00 in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. Covenant Transportation Group has an average rating of “Buy” and a consensus target price of $25.63.

Shares of Covenant Transportation Group (CVTI) traded down $0.13 on Thursday, hitting $29.61. The company’s stock had a trading volume of 99,722 shares, compared to its average volume of 108,240. The firm has a market capitalization of $543.95, a PE ratio of 43.10 and a beta of 1.67. Covenant Transportation Group has a 12 month low of $15.86 and a 12 month high of $30.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.62 and a current ratio of 1.66.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.08. The company had revenue of $178.60 million for the quarter, compared to analysts’ expectations of $170.10 million. Covenant Transportation Group had a return on equity of 5.30% 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 quarter in the previous year, the firm posted $0.16 earnings per share. analysts predict that Covenant Transportation Group will post 0.9 EPS for the current year.

In related news, CEO David Ray Parker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $30.02, for a total value of $300,200.00. Following the transaction, the chief executive officer now owns 110,580 shares in the company, valued at $3,319,611.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 4,000 shares of the business’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 512,826 shares of company stock worth $15,000,875. Insiders own 35.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP lifted its stake in shares of Covenant Transportation Group by 216.8% in the third quarter. Susquehanna International Group LLP now owns 11,684 shares of the transportation company’s stock worth $339,000 after acquiring an additional 21,684 shares in the last quarter. GSA Capital Partners LLP raised its stake in Covenant Transportation Group by 48.9% during the third quarter. GSA Capital Partners LLP now owns 59,395 shares of the transportation company’s stock valued at $1,721,000 after buying an additional 19,500 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Covenant Transportation Group during the third quarter valued at approximately $229,000. Nicholas Investment Partners LP acquired a new stake in Covenant Transportation Group during the third quarter valued at approximately $1,570,000. Finally, Dimensional Fund Advisors LP raised its stake in Covenant Transportation Group by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,343,474 shares of the transportation company’s stock valued at $38,932,000 after buying an additional 5,817 shares in the last quarter. Institutional investors and hedge funds own 63.29% of the company’s stock.

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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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