Covenant Transportation Group (NASDAQ:CVTI) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday, BidAskClub reports.

A number of other equities research analysts have also weighed in on the stock. Stephens set a $25.00 price objective on shares of Covenant Transportation Group and gave the company a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday. Cowen reissued a “market perform” rating and set a $23.00 target price (down previously from $27.00) on shares of Covenant Transportation Group in a research report on Tuesday, March 19th. Finally, ValuEngine cut shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.33.

CVTI opened at $15.39 on Wednesday. The firm has a market cap of $281.95 million, a P/E ratio of 6.52 and a beta of 1.72. Covenant Transportation Group has a fifty-two week low of $14.55 and a fifty-two week high of $35.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.67.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Covenant Transportation Group had a net margin of 4.57% and a return on equity of 13.27%. The business had revenue of $219.18 million during the quarter, compared to analysts’ expectations of $226.90 million. As a group, research analysts predict that Covenant Transportation Group will post 2.09 EPS for the current year.

In related news, Director Robert E. Bosworth bought 5,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $15.00 per share, for a total transaction of $75,000.00. Following the transaction, the director now owns 78,451 shares of the company’s stock, valued at $1,176,765. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 31.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Covenant Transportation Group by 7.2% during the 1st quarter. BlackRock Inc. now owns 1,080,704 shares of the transportation company’s stock worth $20,513,000 after purchasing an additional 72,223 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Covenant Transportation Group by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 545,000 shares of the transportation company’s stock worth $15,837,000 after buying an additional 8,961 shares during the last quarter. LSV Asset Management raised its stake in shares of Covenant Transportation Group by 289.6% during the 1st quarter. LSV Asset Management now owns 383,084 shares of the transportation company’s stock worth $7,270,000 after buying an additional 284,748 shares during the last quarter. Ranger Investment Management L.P. raised its stake in shares of Covenant Transportation Group by 33.2% during the 4th quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock worth $4,161,000 after buying an additional 53,997 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Covenant Transportation Group by 10.2% during the 4th quarter. Two Sigma Advisers LP now owns 194,962 shares of the transportation company’s stock worth $3,743,000 after buying an additional 18,000 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

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 expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

Further Reading: Do equity income investments outperform growth and income investments?

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