Covenant Transportation Group (NASDAQ:CVTI) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, June 17th. Stephens set a $112.00 target price on Genesee & Wyoming and gave the company a “hold” rating in a research report on Monday, July 1st. Cowen reiterated an “outperform” rating and set a $28.00 target price (down from $30.00) on shares of Pure Storage in a research report on Wednesday, May 22nd. Wolfe Research upgraded Covenant Transportation Group from an “underperform” rating to a “peer perform” rating in a research report on Friday, June 28th. Finally, ValuEngine upgraded ZEALAND PHARMA/S from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.33.

Shares of NASDAQ:CVTI traded down $0.50 during trading on Tuesday, reaching $13.49. 97,197 shares of the company traded hands, compared to its average volume of 128,051. The business’s 50 day moving average price is $15.00. The company has a market capitalization of $256.97 million, a price-to-earnings ratio of 5.72 and a beta of 1.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.67. Covenant Transportation Group has a 52 week low of $13.27 and a 52 week high of $32.34.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, April 25th. The transportation company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The firm had revenue of $219.18 million during the quarter, compared to the consensus estimate of $226.90 million. Covenant Transportation Group had a return on equity of 13.27% and a net margin of 4.57%. As a group, sell-side analysts forecast that Covenant Transportation Group will post 1.98 EPS for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in shares of Covenant Transportation Group during the 1st quarter worth $47,000. BNP Paribas Arbitrage SA raised its holdings in shares of Covenant Transportation Group by 257.2% during 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 in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Covenant Transportation Group during the 4th quarter worth $51,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Covenant Transportation Group by 400.7% during 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 in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Covenant Transportation Group during the 4th quarter worth $192,000. 65.35% of the stock is owned by institutional investors.

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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