Covenant Transportation Group (NASDAQ:CVTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Covenant Transport, Inc. is a truckload carrier that offers just-in-time and other premium transportation service for customers throughout the United States. “

A number of other equities analysts have also weighed in on the stock. Stephens set a $31.00 price target on shares of Covenant Transportation Group and gave the company a “buy” rating in a report on Thursday, January 24th. ValuEngine upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. TheStreet lowered shares of Covenant Transportation Group from a “b-” rating to a “c+” rating in a report on Wednesday, December 26th. BidaskClub upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Friday, January 25th. Finally, Cowen reiterated a “market perform” rating and issued a $23.00 price target (down previously from $27.00) on shares of Covenant Transportation Group in a report on Tuesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Covenant Transportation Group has a consensus rating of “Hold” and an average price target of $28.00.

Shares of CVTI opened at $19.79 on Tuesday. The firm has a market capitalization of $392.60 million, a price-to-earnings ratio of 8.39 and a beta of 1.64. 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 current ratio of 1.66, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings results on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, beating the Zacks’ 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 13.57%. Sell-side analysts forecast that Covenant Transportation Group will post 2.51 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. First Quadrant L P CA acquired a new position in shares of Covenant Transportation Group during the 4th quarter valued at $253,000. Northern Trust Corp lifted its holdings in shares of Covenant Transportation Group by 4.0% during the 2nd quarter. Northern Trust Corp now owns 164,662 shares of the transportation company’s stock valued at $5,188,000 after acquiring an additional 6,277 shares in the last quarter. PEAK6 Investments LLC acquired a new position in shares of Covenant Transportation Group during the 3rd quarter valued at $236,000. AQR Capital Management LLC lifted its holdings in shares of Covenant Transportation Group by 16.4% during the 3rd quarter. AQR Capital Management LLC now owns 281,762 shares of the transportation company’s stock valued at $8,188,000 after acquiring an additional 39,600 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Covenant Transportation Group by 13.5% during the 4th quarter. Martingale Asset Management L P now owns 50,532 shares of the transportation company’s stock valued at $972,000 after acquiring an additional 6,001 shares in the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.

About Covenant Transportation Group

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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