BidaskClub lowered shares of Covenant Transportation Group (NASDAQ:CVTI) from a hold rating to a sell rating in a research report released on Tuesday.

Several other analysts also recently commented on the company. Wolfe Research downgraded Covenant Transportation Group from a peer perform rating to an underperform rating in a research note on Friday, October 5th. ValuEngine downgraded Covenant Transportation Group from a buy rating to a hold rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded Covenant Transportation Group from a hold rating to a buy rating and set a $37.00 target price on the stock in a research note on Tuesday, June 12th. Finally, Stephens reiterated a buy rating and set a $35.00 target price on shares of Covenant Transportation Group in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $36.60.

CVTI stock traded down $0.29 on Tuesday, reaching $25.16. 145,146 shares of the company traded hands, compared to its average volume of 167,556. Covenant Transportation Group has a one year low of $24.79 and a one year high of $35.19. The company has a quick ratio of 2.80, a current ratio of 2.84 and a debt-to-equity ratio of 0.74. The firm has a market cap of $533.05 million, a PE ratio of 29.95 and a beta of 1.42.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.54 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $196.32 million during the quarter, compared to analyst estimates of $199.25 million. On average, research analysts expect that Covenant Transportation Group will post 2.13 earnings per share for the current fiscal year.

In other Covenant Transportation Group news, President Joey B. Hogan sold 7,300 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $30.01, for a total transaction of $219,073.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 33.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CVTI. Tower Research Capital LLC TRC purchased a new position in shares of Covenant Transportation Group in the 2nd quarter worth $166,000. Meeder Asset Management Inc. boosted its stake in shares of Covenant Transportation Group by 711.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,339 shares of the transportation company’s stock worth $200,000 after buying an additional 5,558 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Covenant Transportation Group in the 1st quarter worth $223,000. Cubist Systematic Strategies LLC purchased a new position in shares of Covenant Transportation Group in the 1st quarter worth $225,000. Finally, Bailard Inc. purchased a new position in shares of Covenant Transportation Group in the 2nd quarter worth $233,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

About Covenant Transportation Group

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.

Further Reading: Earnings Per Share (EPS) Explained

Analyst Recommendations for Covenant Transportation Group (NASDAQ:CVTI)

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