Covenant Transportation Group (NASDAQ:CVTI) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Covenant Transportation Group (NASDAQ:CVTI) from a sell rating to a hold rating in a report published on Tuesday morning, BidAskClub reports.

Several other analysts have also commented on the stock. ValuEngine raised shares of ZEALAND PHARMA/S from a sell rating to a hold rating in a research report on Friday, March 15th. Cowen reaffirmed an outperform rating and issued a $28.00 price objective (down from $30.00) on shares of Pure Storage in a research report on Wednesday, May 22nd. Wolfe Research raised shares of Covenant Transportation Group from an underperform rating to a peer perform rating in a research report on Friday, June 28th. Zacks Investment Research lowered shares of Forward Air from a hold rating to a sell rating in a research report on Monday, June 17th. Finally, Stephens set a $112.00 price objective on shares of Genesee & Wyoming and gave the company a hold rating in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Covenant Transportation Group has an average rating of Hold and an average target price of $25.33.

CVTI stock opened at $13.49 on Tuesday. The stock has a market capitalization of $256.97 million, a price-to-earnings ratio of 5.72 and a beta of 1.57. The firm’s 50-day moving average price is $14.94. Covenant Transportation Group has a one year low of $13.27 and a one year high of $32.34. The company has a current ratio of 1.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.74.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.07. The business had revenue of $219.18 million during the quarter, compared to analyst estimates of $226.90 million. Covenant Transportation Group had a net margin of 4.57% and a return on equity of 13.27%. As a group, sell-side analysts expect that Covenant Transportation Group will post 1.95 EPS for the current year.

In related news, Director Robert E. Bosworth acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $15.00 per share, with a total value of $75,000.00. Following the transaction, the director now directly owns 78,451 shares of the company’s stock, valued at approximately $1,176,765. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CVTI. Quantamental Technologies LLC purchased a new position in Covenant Transportation Group during the 1st quarter worth approximately $47,000. BNP Paribas Arbitrage SA raised its position in Covenant Transportation Group by 257.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,568 shares of the transportation company’s stock worth $49,000 after buying an additional 1,849 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Covenant Transportation Group during the 4th quarter worth approximately $51,000. Metropolitan Life Insurance Co. NY raised its position in Covenant Transportation Group by 400.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,441 shares of the transportation company’s stock worth $85,000 after buying an additional 3,554 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in Covenant Transportation Group during the 4th quarter worth approximately $192,000. 65.35% of the stock is owned by institutional investors.

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 expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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