Covenant Transportation Group, Inc. (NASDAQ:CVTI) Receives $19.50 Average Price Target from Brokerages

Covenant Transportation Group, Inc. (NASDAQ:CVTI) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.50.

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A number of research firms recently weighed in on CVTI. Zacks Investment Research lowered shares of Covenant Transportation Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 1st. ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Wednesday, October 30th. Cowen reaffirmed a “buy” rating and set a $21.00 target price on shares of Covenant Transportation Group in a report on Friday, October 18th. Finally, BidaskClub raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

In related news, COO James F. Brower, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $15.58, for a total transaction of $93,480.00. Following the sale, the chief operating officer now owns 58,581 shares of the company’s stock, valued at approximately $912,691.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC grew its stake in Covenant Transportation Group by 8.0% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 13,856 shares of the transportation company’s stock worth $204,000 after buying an additional 1,029 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Covenant Transportation Group by 9.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 41,503 shares of the transportation company’s stock worth $611,000 after buying an additional 3,611 shares in the last quarter. BlackRock Inc. grew its stake in Covenant Transportation Group by 2.7% in the 2nd quarter. BlackRock Inc. now owns 1,109,393 shares of the transportation company’s stock worth $16,321,000 after buying an additional 28,689 shares in the last quarter. LSV Asset Management grew its stake in Covenant Transportation Group by 91.8% in the 2nd quarter. LSV Asset Management now owns 734,784 shares of the transportation company’s stock worth $10,808,000 after buying an additional 351,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Covenant Transportation Group by 10.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,200 shares of the transportation company’s stock worth $930,000 after buying an additional 5,850 shares in the last quarter. 63.96% of the stock is owned by institutional investors and hedge funds.

Covenant Transportation Group stock traded down $0.28 during midday trading on Thursday, hitting $15.14. 35,100 shares of the stock were exchanged, compared to its average volume of 129,341. The business’s 50-day moving average price is $15.98 and its 200-day moving average price is $15.88. The company has a quick ratio of 1.67, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $291.45 million, a price-to-earnings ratio of 6.42 and a beta of 1.66. Covenant Transportation Group has a 52-week low of $13.27 and a 52-week high of $25.02.

Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Tuesday, October 22nd. The transportation company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.11). The firm had revenue of $222.91 million for the quarter, compared to the consensus estimate of $209.50 million. Covenant Transportation Group had a return on equity of 7.80% and a net margin of 2.55%. On average, sell-side analysts predict that Covenant Transportation Group will post 0.94 earnings per share for the current fiscal year.

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.

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