Covenant Transportation Group Inc. (NASDAQ:CVTI) posted its quarterly earnings results on Wednesday. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Covenant Transportation Group had a return on equity of 13.75% and a net margin of 4.06%. The company earned $164.50 million during the quarter, compared to analysts’ expectations of $164.50 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Covenant Transportation Group’s revenue was down 5.2% on a year-over-year basis.

Shares of Covenant Transportation Group (NASDAQ:CVTI) traded down 1.12% during midday trading on Wednesday, reaching $14.98. The company had a trading volume of 144,186 shares. Covenant Transportation Group has a one year low of $13.60 and a one year high of $25.77. The company has a market capitalization of $272.55 million, a PE ratio of 9.48 and a beta of 0.66. The company has a 50 day moving average of $18.54 and a 200 day moving average of $20.34.

Earnings History for Covenant Transportation Group (NASDAQ:CVTI)

Several institutional investors have recently bought and sold shares of CVTI. Dimensional Fund Advisors LP raised its position in Covenant Transportation Group by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,362,865 shares of the company’s stock worth $24,627,000 after buying an additional 29,064 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Covenant Transportation Group during the second quarter worth approximately $190,000. GSA Capital Partners LLP raised its position in Covenant Transportation Group by 29.6% in the second quarter. GSA Capital Partners LLP now owns 68,738 shares of the company’s stock worth $1,242,000 after buying an additional 15,700 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Covenant Transportation Group by 8.5% in the second quarter. Commonwealth Equity Services Inc now owns 27,717 shares of the company’s stock worth $501,000 after buying an additional 2,179 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised 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 worth $7,360,000 after buying an additional 235,022 shares during the last quarter. 65.37% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on CVTI. Cowen and Company lowered their price target on Covenant Transportation Group from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, June 22nd. BB&T Corp. cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd.
Stifel Nicolaus boosted their price target on Covenant Transportation Group from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $26.00.

Covenant Transportation Group Company Profile

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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