Covenant Transportation Group, Inc. (NASDAQ:CVTI) has received an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.60.

A number of brokerages have commented on CVTI. BidaskClub raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Stifel Nicolaus raised Covenant Transportation Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $35.00 in a research report on Thursday, April 26th. Cowen lifted their price target on Covenant Transportation Group from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 6th. ValuEngine cut Covenant Transportation Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Monday, May 21st.

CVTI stock traded up $0.15 on Tuesday, hitting $30.24. 610 shares of the company’s stock were exchanged, compared to its average volume of 179,844. Covenant Transportation Group has a 12-month low of $20.37 and a 12-month high of $35.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.84 and a quick ratio of 2.80. The company has a market cap of $568.26 million, a price-to-earnings ratio of 35.37 and a beta of 1.61.

Covenant Transportation Group (NASDAQ:CVTI) last announced its earnings results on Wednesday, July 25th. The transportation company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. Covenant Transportation Group had a return on equity of 9.77% and a net margin of 9.09%. The firm had revenue of $196.32 million for the quarter, compared to the consensus estimate of $199.25 million. equities research analysts anticipate that Covenant Transportation Group will post 2.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.26%. Covenant Transportation Group’s dividend payout ratio is currently 9.52%.

In other Covenant Transportation Group news, VP Ralph H. Lovin, Jr. sold 3,000 shares of Covenant Transportation Group stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $34.85, for a total transaction of $104,550.00. Following the completion of the sale, the vice president now owns 33,639 shares of the company’s stock, valued at approximately $1,172,319.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Ray Parker sold 10,263 shares of Covenant Transportation Group stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $32.50, for a total value of $333,547.50. Following the sale, the chief executive officer now directly owns 114,443 shares of the company’s stock, valued at approximately $3,719,397.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,132 shares of company stock valued at $5,686,691. 33.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CVTI. TIAA CREF Investment Management LLC lifted its holdings in shares of Covenant Transportation Group by 51.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 49,357 shares of the transportation company’s stock valued at $1,418,000 after buying an additional 16,827 shares during the period. BlackRock Inc. lifted its holdings in shares of Covenant Transportation Group by 1.4% in the 4th quarter. BlackRock Inc. now owns 835,104 shares of the transportation company’s stock valued at $23,993,000 after buying an additional 11,623 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Covenant Transportation Group by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 63,492 shares of the transportation company’s stock valued at $1,824,000 after buying an additional 13,950 shares during the period. American Century Companies Inc. acquired a new position in shares of Covenant Transportation Group in the 1st quarter valued at about $2,159,000. Finally, Cavalier Investments LLC acquired a new position in shares of Covenant Transportation Group in the 1st quarter valued at about $298,000. 66.80% of the stock is owned by institutional investors.

Covenant Transportation Group 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.

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