Covenant Transportation Group (NASDAQ:CVTI) had its target price reduced by Cowen from $36.00 to $32.00 in a research note released on Thursday. They currently have a market perform rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the company. Stephens reiterated a buy rating and set a $35.00 price objective on shares of Covenant Transportation Group in a research note on Friday, July 27th. BidaskClub lowered Covenant Transportation Group from a buy rating to a hold rating in a research note on Saturday, July 14th. ValuEngine lowered Covenant Transportation Group from a hold rating to a sell rating in a research note on Friday, October 12th. Finally, Wolfe Research lowered Covenant Transportation Group from a peer perform rating to an underperform rating in a research note on Friday, October 5th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Covenant Transportation Group presently has an average rating of Hold and a consensus price target of $34.20.

Shares of Covenant Transportation Group stock traded down $0.65 on Thursday, hitting $24.44. The company’s stock had a trading volume of 113,277 shares, compared to its average volume of 132,654. The company has a quick ratio of 2.80, a current ratio of 2.84 and a debt-to-equity ratio of 0.74. Covenant Transportation Group has a 1 year low of $23.51 and a 1 year high of $35.19. The firm has a market cap of $448.30 million, a PE ratio of 29.10 and a beta of 1.42.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Covenant Transportation Group had a return on equity of 11.77% and a net margin of 9.22%. The company had revenue of $243.30 million during the quarter, compared to analyst estimates of $237.85 million. On average, sell-side analysts expect that Covenant Transportation Group will post 2.18 EPS for the current year.

In other Covenant Transportation Group news, President Joey B. Hogan sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $30.01, for a total transaction of $219,073.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 35.20% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CVTI. Northern Trust Corp grew its position in shares of Covenant Transportation Group by 5.6% in the first quarter. Northern Trust Corp now owns 158,385 shares of the transportation company’s stock valued at $4,725,000 after purchasing an additional 8,355 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Covenant Transportation Group by 4,876.2% in the first quarter. JPMorgan Chase & Co. now owns 202,085 shares of the transportation company’s stock valued at $6,027,000 after purchasing an additional 198,024 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Covenant Transportation Group by 10.2% in the first quarter. Commonwealth Equity Services LLC now owns 25,790 shares of the transportation company’s stock valued at $769,000 after purchasing an additional 2,384 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Covenant Transportation Group in the first quarter valued at approximately $1,689,000. Finally, Barclays PLC grew its position in shares of Covenant Transportation Group by 99.6% in the first quarter. Barclays PLC now owns 24,429 shares of the transportation company’s stock valued at $729,000 after purchasing an additional 12,188 shares in the last quarter. Institutional investors and hedge funds own 65.33% 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 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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