Equities research analysts forecast that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will announce $201.95 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Covenant Transportation Group’s earnings. The lowest sales estimate is $199.20 million and the highest is $204.70 million. Covenant Transportation Group reported sales of $190.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is expected to report its next earnings results on Wednesday, January 24th.

According to Zacks, analysts expect that Covenant Transportation Group will report full-year sales of $201.95 million for the current financial year, with estimates ranging from $700.90 million to $706.40 million. For the next financial year, analysts forecast that the company will report sales of $755.10 million per share, with estimates ranging from $748.80 million to $761.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Covenant Transportation Group.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.35%. The business had revenue of $178.60 million for the quarter, compared to analysts’ expectations of $170.10 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue was up 8.6% compared to the same quarter last year.

CVTI has been the topic of a number of recent research reports. BidaskClub lowered shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $25.00 in a research note on Monday, August 14th. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Cowen and Company restated a “buy” rating and set a $24.00 target price on shares of Covenant Transportation Group in a research note on Monday, August 28th. Finally, Zacks Investment Research upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.63.

In related news, CEO David Ray Parker sold 57,381 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $28.68, for a total transaction of $1,645,687.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $25.48, for a total transaction of $227,332.56. Following the sale, the vice president now owns 46,371 shares in the company, valued at $1,181,533.08. The disclosure for this sale can be found here. Insiders have sold 325,303 shares of company stock worth $9,304,390 over the last 90 days. Insiders own 35.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CVTI. Nationwide Fund Advisors increased its stake in shares of Covenant Transportation Group by 11.9% during 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 during the period. Bank of New York Mellon Corp increased its stake in shares of Covenant Transportation Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 63,247 shares of the transportation company’s stock worth $1,190,000 after buying an additional 3,473 shares during the period. American International Group Inc. increased its stake in shares of Covenant Transportation Group by 7.2% during the first quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock worth $137,000 after buying an additional 489 shares during the period. Wellington Management Group LLP increased its stake in shares of Covenant Transportation Group by 194.1% during the first quarter. Wellington Management Group LLP now owns 373,626 shares of the transportation company’s stock worth $7,024,000 after buying an additional 246,585 shares during the period. Finally, FMR LLC boosted its holdings in Covenant Transportation Group by 0.4% in the first quarter. FMR LLC now owns 463,000 shares of the transportation company’s stock valued at $8,704,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 60.82% of the company’s stock.

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Shares of Covenant Transportation Group (NASDAQ:CVTI) opened at 29.01 on Tuesday. Covenant Transportation Group has a 12-month low of $15.85 and a 12-month high of $30.60. The stock has a 50 day moving average of $27.24 and a 200-day moving average of $21.05. The company has a market capitalization of $530.51 million, a PE ratio of 51.90 and a beta of 1.68.

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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Earnings History and Estimates for Covenant Transportation Group (NASDAQ:CVTI)

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