Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been given an average rating of “Hold” by the nine ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $34.20.

A number of equities research analysts have weighed in on the company. BidaskClub downgraded Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Wolfe Research cut Covenant Transportation Group from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. ValuEngine cut Covenant Transportation Group from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Cowen lowered their price objective on 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. Finally, Zacks Investment Research upgraded shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, October 26th.

In other news, insider John A. Tweed bought 11,887 shares of the stock in a transaction on Monday, November 12th. The stock was bought at an average cost of $23.61 per share, for a total transaction of $280,652.07. Following the completion of the purchase, the insider now directly owns 23,137 shares in the company, valued at $546,264.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John A. Tweed bought 21,341 shares of the stock in a transaction on Tuesday, December 4th. The stock was purchased at an average price of $21.00 per share, with a total value of $448,161.00. Following the completion of the purchase, the insider now owns 46,183 shares of the company’s stock, valued at $969,843. The disclosure for this purchase can be found here. Insiders purchased a total of 51,887 shares of company stock worth $1,168,606 over the last three months. 33.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of CVTI. Teachers Advisors LLC increased its stake in shares of Covenant Transportation Group by 8.4% during the third quarter. Teachers Advisors LLC now owns 26,253 shares of the transportation company’s stock worth $763,000 after purchasing an additional 2,032 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Covenant Transportation Group by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 545,000 shares of the transportation company’s stock worth $15,837,000 after acquiring an additional 8,961 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Covenant Transportation Group by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 545,000 shares of the transportation company’s stock worth $15,837,000 after acquiring an additional 8,961 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Covenant Transportation Group by 17.8% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 134,596 shares of the transportation company’s stock worth $3,911,000 after acquiring an additional 20,376 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Covenant Transportation Group by 79.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 128,227 shares of the transportation company’s stock worth $3,726,000 after buying an additional 56,604 shares during the period. 63.87% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CVTI traded up $0.04 on Friday, hitting $21.10. The stock had a trading volume of 4,583 shares, compared to its average volume of 115,412. The firm has a market cap of $383.98 million, a P/E ratio of 25.12 and a beta of 1.52. 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 has a 52 week low of $18.13 and a 52 week high of $35.19.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. Covenant Transportation Group had a return on equity of 11.56% and a net margin of 9.22%. The company had revenue of $243.30 million during the quarter, compared to the consensus estimate of $237.85 million. On average, equities analysts forecast that Covenant Transportation Group will post 2.21 earnings per share for the current fiscal year.

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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Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

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