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. “
Other equities analysts also recently issued research reports about the company. Cowen and Company reduced their price target on Covenant Transportation Group from $34.00 to $30.00 and set an outperform rating for the company in a research report on Wednesday, June 22nd. BB&T Corp. cut Covenant Transportation Group from a buy rating to a hold rating in a research note on Wednesday, June 22nd.
Finally, Stifel Nicolaus upped their price objective on Covenant Transportation Group from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Covenant Transportation Group currently has an average rating of Buy and a consensus price target of $26.00.
Shares of Covenant Transportation Group (NASDAQ:CVTI) opened at 14.97 on Wednesday. Covenant Transportation Group has a 1-year low of $13.60 and a 1-year high of $25.77. The firm has a market cap of $272.36 million, a P/E ratio of 9.47 and a beta of 0.66. The firm’s 50-day moving average is $18.77 and its 200-day moving average is $20.45.
Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Covenant Transportation Group had a return on equity of 13.75% and a net margin of 4.06%. The firm earned $158.80 million during the quarter, compared to the consensus estimate of $156.62 million. During the same quarter in the prior year, the firm posted $0.60 EPS. The business’s revenue was down 9.5% on a year-over-year basis. On average, analysts anticipate that Covenant Transportation Group will post $1.17 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of CVTI. Foundry Partners LLC boosted its stake in Covenant Transportation Group by 13.6% in the third quarter. Foundry Partners LLC now owns 143,910 shares of the company’s stock worth $2,782,000 after buying an additional 17,265 shares during the period. Cowen Group Inc. boosted its stake in Covenant Transportation Group by 7.1% in the second quarter. Cowen Group Inc. now owns 15,000 shares of the company’s stock worth $271,000 after buying an additional 1,000 shares during the period. Weiss Multi Strategy Advisers LLC boosted its stake 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 worth $7,478,000 after buying an additional 397,884 shares during the period. Basswood Capital Management L.L.C. boosted its stake 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 worth $4,022,000 after buying an additional 40,161 shares during the period. Finally, Ranger Investment Management L.P. boosted its stake in Covenant Transportation Group by 4.2% in the second quarter. Ranger Investment Management L.P. now owns 67,520 shares of the company’s stock worth $1,220,000 after buying an additional 2,740 shares during the period. Institutional investors and hedge funds own 65.37% of the company’s stock.
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.
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