Equities analysts predict that Covenant Transportation Group, Inc. (NASDAQ:CVTI) will report sales of $269.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Covenant Transportation Group’s earnings. The lowest sales estimate is $262.80 million and the highest is $275.60 million. Covenant Transportation Group reported sales of $203.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.4%. The company is expected to announce its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Covenant Transportation Group will report full-year sales of $882.40 million for the current year, with estimates ranging from $876.00 million to $888.80 million. For the next financial year, analysts forecast that the firm will post sales of $1.01 billion, with estimates ranging from $998.60 million to $1.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Covenant Transportation Group.
Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The firm had revenue of $243.30 million for the quarter, compared to analyst estimates of $237.85 million. Covenant Transportation Group had a return on equity of 11.77% and a net margin of 9.22%.
CVTI has been the topic of a number of recent research reports. Zacks Investment Research upgraded Covenant Transportation Group from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, October 26th. Stephens reiterated a “buy” rating and issued a $35.00 price objective on shares of Covenant Transportation Group in a research report on Friday, July 27th. BidaskClub upgraded Covenant Transportation Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. ValuEngine lowered Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Cowen decreased their price objective on Covenant Transportation Group from $36.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.20.
In other news, President Joey B. Hogan sold 7,300 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $30.01, for a total value of $219,073.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 35.20% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Covenant Transportation Group in the 2nd quarter worth $166,000. Meeder Asset Management Inc. boosted its position 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 purchasing an additional 5,558 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Covenant Transportation Group in the 1st quarter worth $225,000. Bailard Inc. bought a new position in shares of Covenant Transportation Group in the 2nd quarter worth $233,000. Finally, Dynamic Technology Lab Private Ltd boosted its position 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 purchasing an additional 2,561 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
CVTI traded down $1.29 during mid-day trading on Wednesday, reaching $23.90. The stock had a trading volume of 90,458 shares, compared to its average volume of 129,754. The firm has a market capitalization of $464.99 million, a price-to-earnings ratio of 28.45 and a beta of 1.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.80 and a current ratio of 2.84. Covenant Transportation Group has a 52 week low of $23.51 and a 52 week high of $35.19.
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.
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