News coverage about Covenant Transportation Group (NASDAQ:CVTI) has been trending somewhat positive on Tuesday, according to Accern. The research firm identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Covenant Transportation Group earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned headlines about the transportation company an impact score of 46.8955306210662 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Covenant Transportation Group (CVTI) Upgraded to Sell at BidaskClub (americanbankingnews.com)
- Covenant Transportation Group, Inc. (CVTI) Given Average Recommendation of “Buy” by Analysts (americanbankingnews.com)
- Covenant Transportation Group (CVTI) Upgraded by Stephens to “Overweight” (americanbankingnews.com)
- Covenant Transportation Group (CVTI) Lifted to “Hold” at ValuEngine (americanbankingnews.com)
- Covenant Transportation Group (CVTI) Upgraded to “Hold” at BidaskClub (americanbankingnews.com)
Shares of CVTI stock traded down $0.38 during trading hours on Tuesday, hitting $30.29. The company’s stock had a trading volume of 69,584 shares, compared to its average volume of 189,046. The company has a market capitalization of $537.80, a P/E ratio of 36.18 and a beta of 1.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.00 and a quick ratio of 1.95. Covenant Transportation Group has a 12-month low of $15.86 and a 12-month high of $33.36.
Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Monday, January 29th. The transportation company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $203.31 million during the quarter, compared to analysts’ expectations of $202.40 million. Covenant Transportation Group had a net margin of 7.94% and a return on equity of 6.26%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. sell-side analysts forecast that Covenant Transportation Group will post 1.79 earnings per share for the current year.
Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Covenant Transportation Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. BidaskClub downgraded shares of Covenant Transportation Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 20th. Seaport Global Securities raised shares of Covenant Transportation Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, March 15th. ValuEngine raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Finally, Cowen reaffirmed a “market perform” rating and issued a $30.00 price objective (up from $25.50) on shares of Covenant Transportation Group in a report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Covenant Transportation Group presently has a consensus rating of “Buy” and an average target price of $32.60.
In related news, VP Ralph H. Lovin, Jr. sold 3,000 shares of the stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $33.00, for a total transaction of $99,000.00. Following the sale, the vice president now directly owns 34,532 shares of the company’s stock, valued at $1,139,556. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David Ray Parker sold 25,773 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $30.02, for a total transaction of $773,705.46. Following the sale, the chairman now directly owns 108,430 shares in the company, valued at $3,255,068.60. The disclosure for this sale can be found here. Insiders have sold 159,755 shares of company stock worth $5,013,282 over the last three months. 35.20% of the stock is currently owned by insiders.
About Covenant Transportation Group
Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.
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