ValuEngine cut shares of Covenant Transportation Group (NASDAQ:CVTI) from a hold rating to a sell rating in a research note published on Friday morning.

Several other brokerages also recently weighed in on CVTI. BidaskClub downgraded shares of Covenant Transportation Group from a buy rating to a hold rating in a research note on Friday, September 21st. Stephens reiterated a buy rating and set a $35.00 target price on shares of Covenant Transportation Group in a research note on Friday, July 27th. Finally, Wolfe Research downgraded shares of Covenant Transportation Group from a peer perform rating to an underperform rating in a research note on Friday, October 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $36.60.

Shares of CVTI stock traded down $0.29 during mid-day trading on Friday, hitting $25.16. 145,146 shares of the stock were exchanged, compared to its average volume of 167,556. The firm has a market cap of $533.05 million, a price-to-earnings ratio of 29.95 and a beta of 1.42. Covenant Transportation Group has a 12-month low of $24.79 and a 12-month high of $35.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.80 and a current ratio of 2.84.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. Covenant Transportation Group had a return on equity of 9.77% and a net margin of 9.09%. The company had revenue of $196.32 million for the quarter, compared to analyst estimates of $199.25 million. As a group, research analysts predict that Covenant Transportation Group will post 2.13 EPS for the current year.

In other news, President Joey B. Hogan sold 7,300 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $30.01, for a total transaction of $219,073.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 33.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Covenant Transportation Group by 1,409.4% in the second quarter. Wells Fargo & Company MN now owns 395,969 shares of the transportation company’s stock valued at $12,473,000 after purchasing an additional 369,735 shares during the period. Hodges Capital Management Inc. grew its stake in shares of Covenant Transportation Group by 224.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 288,550 shares of the transportation company’s stock valued at $9,089,000 after buying an additional 199,630 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Covenant Transportation Group by 4,876.2% during the 1st quarter. JPMorgan Chase & Co. now owns 202,085 shares of the transportation company’s stock valued at $6,027,000 after buying an additional 198,024 shares during the period. Millennium Management LLC grew its stake in shares of Covenant Transportation Group by 40.8% during the 2nd quarter. Millennium Management LLC now owns 437,735 shares of the transportation company’s stock valued at $13,789,000 after buying an additional 126,782 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Covenant Transportation Group by 10.3% during the 2nd quarter. BlackRock Inc. now owns 913,029 shares of the transportation company’s stock valued at $28,759,000 after buying an additional 85,493 shares during the period. Institutional investors and hedge funds own 65.42% of the company’s stock.

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 long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

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Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

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