Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.63.

A number of equities analysts recently commented on CVTI shares. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. TheStreet raised shares of Covenant Transportation Group from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. BidaskClub raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.00 in a research note on Monday, August 14th.

Covenant Transportation Group (NASDAQ:CVTI) opened at $27.99 on Friday. Covenant Transportation Group has a 52 week low of $15.86 and a 52 week high of $30.60. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The company has a market cap of $510.39, a PE ratio of 40.45 and a beta of 1.69.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.35%. The firm had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $170.10 million. During the same period in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. analysts predict that Covenant Transportation Group will post 0.86 earnings per share for the current year.

In other Covenant Transportation Group news, President Joey B. Hogan sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $25.03, for a total value of $125,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Ray Parker sold 250,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 442,441 shares of company stock valued at $12,823,135. 35.20% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Covenant Transportation Group by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock valued at $9,887,000 after buying an additional 59,199 shares during the period. Bank of America Corp DE raised its holdings in shares of Covenant Transportation Group by 56.3% in the 1st quarter. Bank of America Corp DE now owns 40,854 shares of the transportation company’s stock valued at $767,000 after purchasing an additional 14,724 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Covenant Transportation Group by 34.0% in the 2nd quarter. Fisher Asset Management LLC now owns 122,242 shares of the transportation company’s stock valued at $2,143,000 after purchasing an additional 31,042 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Covenant Transportation Group in the 3rd quarter valued at about $2,367,000. Finally, Nationwide Fund Advisors raised its holdings in shares of Covenant Transportation Group by 156.4% in the 2nd quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 15,900 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Covenant Transportation Group, Inc. (CVTI) Receives Average Recommendation of “Hold” from Analysts” was originally reported by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.dailypolitical.com/2017/11/11/covenant-transportation-group-inc-cvti-receives-average-recommendation-of-hold-from-analysts.html.

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.

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