Zacks Investment Research upgraded shares of Covenant Transportation Group (NASDAQ:CVTI) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $34.00 price objective on the transportation company’s stock.

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 have also issued reports about the company. TheStreet raised Covenant Transportation Group from a c+ rating to a b rating in a research report on Thursday, October 19th. BidaskClub lowered Covenant Transportation Group from a strong-buy rating to a buy rating in a research report on Wednesday, December 20th. ValuEngine lowered Covenant Transportation Group from a buy rating to a hold rating in a research report on Friday, December 1st. Cowen reissued a hold rating and set a $25.50 price target on shares of Covenant Transportation Group in a research report on Tuesday, October 24th. Finally, Seaport Global Securities reissued a neutral rating on shares of Covenant Transportation Group in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Covenant Transportation Group currently has a consensus rating of Hold and a consensus price target of $29.67.

Covenant Transportation Group (NASDAQ:CVTI) opened at $29.40 on Friday. The company has a market capitalization of $526.99, a P/E ratio of 9.74 and a beta of 1.56. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.77. 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 released its quarterly earnings results on Monday, January 29th. The transportation company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $203.31 million for the quarter, compared to analyst estimates of $202.40 million. Covenant Transportation Group had a return on equity of 6.63% and a net margin of 7.94%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. analysts predict that Covenant Transportation Group will post 1.58 earnings per share for the current fiscal year.

In other Covenant Transportation Group news, Chairman David Ray Parker sold 30,455 shares of Covenant Transportation Group stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $30.01, for a total transaction of $913,954.55. Following the sale, the chairman now directly owns 110,580 shares in the company, valued at approximately $3,318,505.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 84,307 shares of company stock worth $2,530,223 over the last 90 days. 35.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Covenant Transportation Group by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,343,474 shares of the transportation company’s stock worth $38,932,000 after purchasing an additional 5,817 shares during the last quarter. Vanguard Group Inc. increased its holdings in Covenant Transportation Group by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 539,993 shares of the transportation company’s stock worth $9,467,000 after purchasing an additional 14,150 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Covenant Transportation Group by 742.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 520,327 shares of the transportation company’s stock worth $15,079,000 after purchasing an additional 458,587 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Covenant Transportation Group during the 3rd quarter worth approximately $11,686,000. Finally, Foundry Partners LLC increased its holdings in Covenant Transportation Group by 19.8% during the 3rd quarter. Foundry Partners LLC now owns 306,785 shares of the transportation company’s stock worth $8,891,000 after purchasing an additional 50,600 shares during the last quarter. Institutional investors own 63.97% of the company’s stock.

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Covenant Transportation Group Company Profile

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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