Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $25.63.

Several equities analysts have commented on the stock. Cowen and Company reissued a “hold” rating and set a $25.50 target price on shares of Covenant Transportation Group in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $25.00 in a research report on Monday, August 14th. Finally, ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th.

In other Covenant Transportation Group news, COO Samuel F. Hough sold 2,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief operating officer now directly owns 62,763 shares in the company, valued at $1,882,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David Ray Parker sold 60,919 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.04, for a total transaction of $1,830,006.76. Following the sale, the chairman now owns 110,580 shares of the company’s stock, valued at $3,321,823.20. The disclosure for this sale can be found here. Insiders have sold 442,441 shares of company stock valued at $12,823,135 over the last 90 days. Corporate insiders own 35.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CVTI. Macquarie Group Ltd. bought a new stake in Covenant Transportation Group during the third quarter valued at about $113,000. American International Group Inc. boosted its holdings in 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 valued at $137,000 after acquiring an additional 489 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Covenant Transportation Group by 15.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock valued at $191,000 after acquiring an additional 1,472 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in Covenant Transportation Group during the third quarter valued at about $217,000. Finally, Brandes Investment Partners LP bought a new stake in Covenant Transportation Group during the third quarter valued at about $219,000. Institutional investors own 65.60% of the company’s stock.

Covenant Transportation Group (NASDAQ:CVTI) traded down $0.92 during trading on Friday, reaching $28.08. 123,300 shares of the company’s stock traded hands, compared to its average volume of 113,910. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.62. The firm has a market capitalization of $519.90, a P/E ratio of 41.20 and a beta of 1.69. Covenant Transportation Group has a 52-week low of $15.86 and a 52-week high of $30.60.

Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.08. The firm had revenue of $178.60 million for the quarter, compared to the consensus estimate of $170.10 million. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.30%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. equities research analysts forecast that Covenant Transportation Group will post 0.86 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Covenant Transportation Group, Inc. (CVTI) Receives $25.63 Average Price Target from Analysts” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://theolympiareport.com/2017/11/16/covenant-transportation-group-inc-cvti-receives-25-63-average-price-target-from-analysts.html.

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.

Receive News & Ratings for Covenant Transportation Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.