Wall Street analysts expect Covenant Transportation Group, Inc. (NASDAQ:CVTI) to announce $217.75 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Covenant Transportation Group’s earnings, with estimates ranging from $217.20 million to $218.30 million. Covenant Transportation Group reported sales of $173.57 million during the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, April 23rd.

On average, analysts expect that Covenant Transportation Group will report full-year sales of $1.01 billion for the current fiscal year, with estimates ranging from $993.70 million to $1.02 billion. For the next financial year, analysts forecast that the business will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Covenant Transportation Group.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.16. The company had revenue of $272.27 million for the quarter, compared to analyst estimates of $269.20 million. Covenant Transportation Group had a net margin of 4.80% and a return on equity of 13.89%.

A number of equities analysts recently commented on the stock. BidaskClub lowered shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Stephens set a $31.00 price target on shares of Covenant Transportation Group and gave the stock a “buy” rating in a research report on Thursday, January 24th. ValuEngine raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. TheStreet lowered shares of Covenant Transportation Group from a “b-” rating to a “c+” rating in a research report on Wednesday, December 26th. Finally, Cowen lowered their price target on shares of Covenant Transportation Group from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.40.

In other Covenant Transportation Group news, insider John A. Tweed purchased 11,887 shares of the stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $23.61 per share, with a total value of $280,652.07. Following the completion of the transaction, the insider now owns 23,137 shares in the company, valued at $546,264.57. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John A. Tweed purchased 21,341 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $21.00 per share, for a total transaction of $448,161.00. Following the completion of the transaction, the insider now owns 46,183 shares of the company’s stock, valued at approximately $969,843. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 51,887 shares of company stock worth $1,168,606. 33.10% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Covenant Transportation Group by 17.3% during the second quarter. Bank of New York Mellon Corp now owns 67,043 shares of the transportation company’s stock worth $2,112,000 after acquiring an additional 9,883 shares during the period. Northern Trust Corp increased its holdings in Covenant Transportation Group by 4.0% in the 2nd quarter. Northern Trust Corp now owns 164,662 shares of the transportation company’s stock valued at $5,188,000 after buying an additional 6,277 shares during the period. Assenagon Asset Management S.A. bought a new position in Covenant Transportation Group in the 3rd quarter valued at about $1,225,000. PEAK6 Investments LLC bought a new position in Covenant Transportation Group in the 3rd quarter valued at about $236,000. Finally, AQR Capital Management LLC increased its holdings in Covenant Transportation Group by 16.4% in the 3rd quarter. AQR Capital Management LLC now owns 281,762 shares of the transportation company’s stock valued at $8,188,000 after buying an additional 39,600 shares during the period. 63.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVTI opened at $23.60 on Thursday. The stock has a market capitalization of $436.18 million, a PE ratio of 10.00 and a beta of 1.70. Covenant Transportation Group has a fifty-two week low of $18.13 and a fifty-two week high of $35.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.47 and a current ratio of 1.50.

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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Earnings History and Estimates for Covenant Transportation Group (NASDAQ:CVTI)

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