Covenant Transportation Group Inc. (NASDAQ:CVTI)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a report issued on Friday.

CVTI has been the topic of several other research reports. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Stifel Nicolaus raised their target price on shares of Covenant Transportation Group from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, BB&T Corp. lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd.
Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.00.

Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

Covenant Transportation Group (NASDAQ:CVTI) opened at 14.85 on Friday. The firm has a market cap of $270.18 million, a price-to-earnings ratio of 9.40 and a beta of 0.66. The stock has a 50 day moving average of $18.99 and a 200 day moving average of $20.64. Covenant Transportation Group has a one year low of $13.60 and a one year high of $25.77.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The business had revenue of $158.80 million for the quarter, compared to analyst estimates of $156.62 million. Covenant Transportation Group had a net margin of 4.06% and a return on equity of 13.75%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Equities research analysts predict that Covenant Transportation Group will post $1.17 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Covenant Transportation Group by 50.1% in the second quarter. Alliancebernstein L.P. now owns 1,223,583 shares of the company’s stock valued at $22,110,000 after buying an additional 408,133 shares during the last quarter. Weiss Multi Strategy Advisers LLC increased its position in Covenant Transportation Group by 2,498.0% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 413,812 shares of the company’s stock valued at $7,478,000 after buying an additional 397,884 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Covenant Transportation Group by 136.4% in the second quarter. Mutual of America Capital Management LLC now owns 407,314 shares of the company’s stock valued at $7,360,000 after buying an additional 235,022 shares during the last quarter. Penn Capital Management Co. Inc. acquired a new position in Covenant Transportation Group during the second quarter valued at about $3,460,000. Finally, Basswood Capital Management L.L.C. increased its position in Covenant Transportation Group by 22.0% in the second quarter. Basswood Capital Management L.L.C. now owns 222,602 shares of the company’s stock valued at $4,022,000 after buying an additional 40,161 shares during the last quarter. 65.82% of the stock is owned by hedge funds and other institutional investors.

About Covenant Transportation Group

Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.

5 Day Chart for NASDAQ:CVTI

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