Cowen and Company reissued their buy rating on shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) in a report published on Monday. The firm currently has a $24.00 target price on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Covenant Transportation Group from a sell rating to a hold rating in a report on Tuesday, June 27th. ValuEngine upgraded shares of Covenant Transportation Group from a sell rating to a hold rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Covenant Transportation Group from a sell rating to a hold rating in a report on Monday, August 14th. Finally, Stephens upgraded shares of Covenant Transportation Group from an equal weight rating to an overweight rating and raised their price target for the company from $20.00 to $25.00 in a report on Monday, August 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $23.00.

Shares of Covenant Transportation Group (NASDAQ CVTI) opened at 24.01 on Monday. Covenant Transportation Group has a one year low of $14.26 and a one year high of $24.09. The company has a 50-day moving average price of $19.54 and a 200 day moving average price of $18.66. The firm has a market capitalization of $439.07 million, a P/E ratio of 42.95 and a beta of 1.65.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $164.30 million for the quarter, compared to the consensus estimate of $158.40 million. Covenant Transportation Group had a net margin of 0.94% and a return on equity of 2.63%. Covenant Transportation Group’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. Analysts expect that Covenant Transportation Group will post $0.71 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of 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 period. Nationwide Fund Advisors increased its position in shares of 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 period. The Manufacturers Life Insurance Company increased its position in shares of 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 period. Rhumbline Advisers increased its position in shares of 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 period. Finally, Teachers Advisors LLC increased its position in shares of Covenant Transportation Group by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock valued at $373,000 after buying an additional 1,268 shares during the period. Hedge funds and other 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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