Covenant Transportation Group, Inc. (NASDAQ:CVTI) has earned an average rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $29.50.

A number of equities analysts have issued reports on CVTI shares. Stephens cut Covenant Transportation Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 1st. Zacks Investment Research cut Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. ValuEngine upgraded Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. BidaskClub cut Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Cowen restated a “market perform” rating and set a $23.00 price target (down from $27.00) on shares of Covenant Transportation Group in a report on Tuesday, March 19th.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Covenant Transportation Group by 7.2% during the first quarter. BlackRock Inc. now owns 1,080,704 shares of the transportation company’s stock worth $20,513,000 after purchasing an additional 72,223 shares during the period. Vanguard Group Inc raised its position in shares of Covenant Transportation Group by 1.7% during the third quarter. Vanguard Group Inc now owns 545,000 shares of the transportation company’s stock worth $15,837,000 after purchasing an additional 8,961 shares during the period. Vanguard Group Inc. raised its position in shares of Covenant Transportation Group by 1.7% during the third quarter. Vanguard Group Inc. now owns 545,000 shares of the transportation company’s stock worth $15,837,000 after purchasing an additional 8,961 shares during the period. LSV Asset Management raised its position in shares of Covenant Transportation Group by 289.6% during the first quarter. LSV Asset Management now owns 383,084 shares of the transportation company’s stock worth $7,270,000 after purchasing an additional 284,748 shares during the period. Finally, Ranger Investment Management L.P. raised its position in shares of Covenant Transportation Group by 33.2% during the fourth quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock worth $4,161,000 after purchasing an additional 53,997 shares during the period. 63.91% of the stock is currently owned by institutional investors.

Shares of Covenant Transportation Group stock traded down $0.20 on Thursday, reaching $17.07. 46,900 shares of the company’s stock were exchanged, compared to its average volume of 131,686. The stock has a market capitalization of $318.87 million, a price-to-earnings ratio of 7.23 and a beta of 1.58. Covenant Transportation Group has a 52 week low of $17.02 and a 52 week high of $35.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.63 and a current ratio of 1.70.

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

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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