Covenant Transport (NASDAQ:CVTI) – Investment analysts at Seaport Global Securities upped their Q2 2018 earnings per share estimates for Covenant Transport in a note issued to investors on Wednesday, April 25th. Seaport Global Securities analyst K. Sterling now anticipates that the transportation company will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.33. Seaport Global Securities currently has a “Buy” rating and a $40.00 target price on the stock.

A number of other equities research analysts also recently weighed in on CVTI. BidaskClub downgraded Covenant Transport from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus upgraded Covenant Transport from a “hold” rating to a “buy” rating and raised their price target for the company from $34.00 to $35.00 in a research report on Thursday. Cowen restated a “market perform” rating and set a $30.00 price target (up previously from $25.50) on shares of Covenant Transport in a research report on Tuesday, January 30th. ValuEngine upgraded Covenant Transport from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Finally, Zacks Investment Research upgraded Covenant Transport from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.80.

NASDAQ CVTI opened at $28.23 on Thursday. Covenant Transport has a twelve month low of $15.86 and a twelve month high of $33.36. The company has a current ratio of 2.00, a quick ratio of 1.95 and a debt-to-equity ratio of 0.63. The stock has a market cap of $521.67, a price-to-earnings ratio of 33.61 and a beta of 1.53.

Covenant Transport (NASDAQ:CVTI) last posted its quarterly earnings data on Wednesday, April 25th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $173.57 million during the quarter, compared to analyst estimates of $169.15 million. Covenant Transport had a return on equity of 7.65% and a net margin of 8.32%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVTI. MetLife Investment Advisors LLC purchased a new position in shares of Covenant Transport in the fourth quarter worth about $166,000. The Manufacturers Life Insurance Company increased its holdings in shares of Covenant Transport by 15.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock worth $191,000 after buying an additional 1,472 shares during the period. First Quadrant L P CA purchased a new position in shares of Covenant Transport in the fourth quarter worth about $207,000. Alambic Investment Management L.P. purchased a new position in shares of Covenant Transport in the fourth quarter worth about $367,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Covenant Transport by 41.2% in the third quarter. New York State Common Retirement Fund now owns 16,666 shares of the transportation company’s stock worth $483,000 after buying an additional 4,866 shares during the period. Hedge funds and other institutional investors own 62.91% of the company’s stock.

In other news, VP Ralph H. Lovin, Jr. sold 3,000 shares of Covenant Transport stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now owns 34,532 shares in the company, valued at $1,139,556. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Ralph H. Lovin, Jr. sold 2,000 shares of Covenant Transport stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $31.96, for a total value of $63,920.00. Following the completion of the transaction, the vice president now owns 37,532 shares in the company, valued at approximately $1,199,522.72. The disclosure for this sale can be found here. Insiders have sold 159,755 shares of company stock worth $5,013,282 in the last 90 days. Company insiders own 35.20% of the company’s stock.

Covenant Transport Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

Earnings History and Estimates for Covenant Transport (NASDAQ:CVTI)

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