Covenant Transportation Group, Inc. (CVTI) Receives Consensus Rating of “Hold” from Analysts

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.50.

Several brokerages recently issued reports on CVTI. ValuEngine upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. Stephens downgraded shares of Covenant Transportation Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Cowen reiterated a “market perform” rating and issued a $23.00 target price (down from $27.00) on shares of Covenant Transportation Group in a research note on Tuesday, March 19th. Finally, BidaskClub downgraded shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th.

Covenant Transportation Group stock opened at $17.74 on Thursday. Covenant Transportation Group has a one year low of $17.17 and a one year high of $35.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.63. The stock has a market cap of $325.85 million, a PE ratio of 7.52 and a beta of 1.58.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.07. Covenant Transportation Group had a net margin of 4.57% and a return on equity of 13.27%. The company had revenue of $219.18 million during the quarter, compared to the consensus estimate of $226.90 million. On average, sell-side analysts expect that Covenant Transportation Group will post 2.11 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new stake in Covenant Transportation Group in the 1st quarter valued at about $47,000. DekaBank Deutsche Girozentrale bought a new position in Covenant Transportation Group in the 1st quarter valued at about $47,000. BNP Paribas Arbitrage SA raised its holdings in Covenant Transportation Group by 257.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,568 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 1,849 shares during the period. Great West Life Assurance Co. Can bought a new position in Covenant Transportation Group in the 4th quarter valued at about $51,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Covenant Transportation Group by 400.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,441 shares of the transportation company’s stock valued at $85,000 after acquiring an additional 3,554 shares during the period. Institutional investors and hedge funds own 63.91% of the company’s stock.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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