Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.00.

A number of equities research analysts have commented on the company. BidaskClub upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday. Stephens assumed coverage on Covenant Transportation Group in a report on Monday, July 1st. They set a “hold” rating on the stock. Wolfe Research upgraded Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a report on Friday, June 28th. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, Cowen upgraded Covenant Transportation Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $24.00 to $23.00 in a report on Wednesday, May 22nd.

Shares of CVTI stock opened at $14.39 on Friday. The stock has a market cap of $269.09 million, a P/E ratio of 6.10 and a beta of 1.58. The stock’s 50 day simple moving average is $15.06. Covenant Transportation Group has a 12-month low of $13.27 and a 12-month high of $33.59. The company has a current ratio of 1.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.74.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, beating 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%. Analysts expect that Covenant Transportation Group will post 1.98 earnings per share for the current year.

In other Covenant Transportation Group news, Director Robert E. Bosworth acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $75,000.00. Following the completion of the acquisition, the director now directly owns 78,451 shares of the company’s stock, valued at $1,176,765. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in shares of Covenant Transportation Group in the 1st quarter worth $47,000. BNP Paribas Arbitrage SA raised its position in shares of 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 worth $49,000 after buying an additional 1,849 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Covenant Transportation Group in the 4th quarter worth $51,000. Metropolitan Life Insurance Co. NY raised its position in shares of 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 worth $85,000 after buying an additional 3,554 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in shares of Covenant Transportation Group in the 4th quarter worth $192,000. Institutional investors and hedge funds own 65.35% of the company’s stock.

About Covenant Transportation Group

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.

Featured Story: What is a Leveraged Buyout (LBO)?

Receive News & Ratings for Covenant Transportation Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group and related companies with MarketBeat.com's FREE daily email newsletter.