Covenant Transportation Group, Inc. (NASDAQ:CVTI)‘s stock had its “buy” rating reiterated by stock analysts at Cowen and Company in a research report issued to clients and investors on Monday. They presently have a $24.00 target price on the transportation company’s stock. Cowen and Company’s price objective indicates a potential upside of 9.89% from the stock’s current price.

CVTI has been the topic of a number of other reports. BidaskClub upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $25.00 in a research note on Monday, August 14th. Finally, Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.00.

Shares of Covenant Transportation Group (NASDAQ CVTI) opened at 21.84 on Monday. The stock has a market cap of $399.39 million, a price-to-earnings ratio of 39.07 and a beta of 1.65. The firm’s 50-day moving average price is $18.78 and its 200-day moving average price is $18.58. Covenant Transportation Group has a 12-month low of $14.26 and a 12-month high of $22.60.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Tuesday, July 25th. The transportation company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The business had revenue of $164.30 million during the quarter, compared to the consensus estimate of $158.40 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Covenant Transportation Group will post $0.71 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Covenant Transportation Group by 4.9% in the fourth quarter. State Street Corp now owns 174,881 shares of the transportation company’s stock worth $3,380,000 after buying an additional 8,215 shares in the last quarter. Teachers Advisors LLC increased its stake in Covenant Transportation Group by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock worth $373,000 after buying an additional 1,268 shares in the last quarter. Nationwide Fund Advisors increased its stake in Covenant Transportation Group by 11.9% in the first quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock worth $191,000 after buying an additional 1,080 shares in the last quarter. Fisher Asset Management LLC increased its stake in Covenant Transportation Group by 45.9% in the first quarter. Fisher Asset Management LLC now owns 91,200 shares of the transportation company’s stock worth $1,715,000 after buying an additional 28,688 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Covenant Transportation Group by 5.3% in the first quarter. Russell Investments Group Ltd. now owns 202,631 shares of the transportation company’s stock worth $3,809,000 after buying an additional 10,137 shares in the last quarter. 62.13% of the stock is currently owned by institutional investors.

About Covenant Transportation Group

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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