Covenant Transport (NASDAQ:CVTI) is scheduled to issue its quarterly earnings data on Wednesday, April 25th. Analysts expect the company to announce earnings of $0.23 per share for the quarter.

Covenant Transport (NASDAQ:CVTI) last released its quarterly earnings data on Monday, January 29th. The transportation company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). Covenant Transport had a net margin of 7.94% and a return on equity of 6.26%. The business had revenue of $203.31 million for the quarter, compared to the consensus estimate of $202.40 million. During the same quarter last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts expect Covenant Transport to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NASDAQ:CVTI traded down $0.13 during trading on Monday, hitting $29.82. 86,422 shares of the company’s stock traded hands, compared to its average volume of 184,550. Covenant Transport has a 52 week low of $15.86 and a 52 week high of $33.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.00 and a quick ratio of 1.95. The stock has a market capitalization of $548.98, a PE ratio of 35.50 and a beta of 1.52.

In related news, Chairman David Ray Parker sold 25,773 shares of Covenant Transport stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $30.02, for a total value of $773,705.46. Following the sale, the chairman now owns 108,430 shares of the company’s stock, valued at approximately $3,255,068.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ralph H. Lovin, Jr. sold 3,000 shares of Covenant Transport stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the sale, the vice president now directly owns 34,532 shares in the company, valued at approximately $1,139,556. The disclosure for this sale can be found here. In the last three months, insiders sold 159,755 shares of company stock worth $5,013,282. 33.10% of the stock is owned by insiders.

A hedge fund recently raised its stake in Covenant Transport stock. The Manufacturers Life Insurance Company boosted its position in Covenant Transport (NASDAQ:CVTI) by 15.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,909 shares of the transportation company’s stock after buying an additional 1,472 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Covenant Transport worth $191,000 as of its most recent filing with the SEC. 62.91% of the stock is currently owned by institutional investors.

CVTI has been the topic of several recent analyst reports. ValuEngine upgraded Covenant Transport from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Seaport Global Securities upgraded Covenant Transport from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, March 15th. Zacks Investment Research upgraded Covenant Transport from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, February 2nd. BidaskClub lowered Covenant Transport from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Stifel Nicolaus started coverage on Covenant Transport in a research report on Friday, April 6th. They issued a “hold” rating and a $34.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Covenant Transport currently has an average rating of “Buy” and a consensus price target of $32.60.

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About Covenant Transport

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.

Earnings History for Covenant Transport (NASDAQ:CVTI)

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