Brokerages expect Covenant Transportation Group, Inc. (NASDAQ:CVTI) to report earnings per share of $0.77 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Covenant Transportation Group’s earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.75. Covenant Transportation Group posted earnings of $0.50 per share in the same quarter last year, which indicates a positive year over year growth rate of 54%. The business is expected to issue its next quarterly earnings results on Monday, February 4th.
On average, analysts expect that Covenant Transportation Group will report full-year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.19 to $2.20. For the next year, analysts expect that the firm will post earnings of $2.65 per share, with EPS estimates ranging from $2.58 to $2.75. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. Covenant Transportation Group had a return on equity of 11.56% and a net margin of 9.22%. The business had revenue of $243.30 million during the quarter, compared to analyst estimates of $237.85 million.
CVTI has been the subject of a number of analyst reports. Cowen reduced their price objective on Covenant Transportation Group from $36.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, October 25th. Wolfe Research lowered Covenant Transportation Group from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. BidaskClub lowered Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. TheStreet lowered Covenant Transportation Group from a “b-” rating to a “c+” rating in a research report on Wednesday, December 26th. Finally, ValuEngine lowered Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 5th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $34.20.
In other Covenant Transportation Group news, insider John A. Tweed purchased 11,887 shares of Covenant Transportation Group stock in a transaction on Monday, November 12th. The stock was bought at an average price of $23.61 per share, for a total transaction of $280,652.07. Following the transaction, the insider now owns 23,137 shares of the company’s stock, valued at approximately $546,264.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John A. Tweed purchased 21,341 shares of Covenant Transportation Group stock in a transaction on Tuesday, December 4th. The shares were acquired at an average price of $21.00 per share, with a total value of $448,161.00. Following the transaction, the insider now directly owns 46,183 shares in the company, valued at approximately $969,843. The disclosure for this purchase can be found here. Insiders have acquired a total of 51,887 shares of company stock valued at $1,168,606 in the last quarter. 33.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new stake in shares of Covenant Transportation Group in the 2nd quarter worth $166,000. PEAK6 Investments LLC bought a new stake in shares of Covenant Transportation Group in the 3rd quarter worth $236,000. MetLife Investment Advisors LLC raised its stake in shares of Covenant Transportation Group by 61.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,330 shares of the transportation company’s stock worth $271,000 after buying an additional 3,554 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Covenant Transportation Group by 34.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,150 shares of the transportation company’s stock worth $320,000 after buying an additional 2,617 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of Covenant Transportation Group by 31.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,788 shares of the transportation company’s stock worth $340,000 after buying an additional 2,561 shares in the last quarter. Institutional investors own 63.87% of the company’s stock.
NASDAQ:CVTI traded up $0.35 during midday trading on Friday, reaching $21.06. 184,101 shares of the company traded hands, compared to its average volume of 115,412. Covenant Transportation Group has a twelve month low of $18.13 and a twelve month high of $35.19. The firm has a market capitalization of $383.98 million, a P/E ratio of 25.07 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.47.
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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