Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Forward Air from a hold rating to a sell rating in a research report on Monday, June 17th. Cowen reaffirmed an outperform rating and issued a $28.00 target price (down previously from $30.00) on shares of Pure Storage in a research report on Wednesday, May 22nd. Stephens set a $112.00 price target on Genesee & Wyoming and gave the stock a hold rating in a research note on Monday, July 1st. Wolfe Research upgraded Covenant Transportation Group from an underperform rating to a peer perform rating in a research note on Friday, June 28th. Finally, ValuEngine upgraded ZEALAND PHARMA/S from a sell rating to a hold rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $25.33.
Shares of NASDAQ CVTI opened at $13.62 on Tuesday. Covenant Transportation Group has a 1-year low of $13.27 and a 1-year high of $32.34. The stock has a 50-day moving average of $14.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.70 and a quick ratio of 1.67. The stock has a market capitalization of $250.20 million, a P/E ratio of 5.77 and a beta of 1.57.
In other Covenant Transportation Group news, Director Robert E. Bosworth purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $75,000.00. Following the completion of the purchase, the director now owns 78,451 shares in the company, valued at approximately $1,176,765. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 31.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new position in shares of Covenant Transportation Group during the first quarter valued at approximately $47,000. BNP Paribas Arbitrage SA grew its holdings in shares of Covenant Transportation Group by 257.2% during the first quarter. BNP Paribas Arbitrage SA now owns 2,568 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 1,849 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Covenant Transportation Group during the fourth quarter valued at approximately $51,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Covenant Transportation Group by 400.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,441 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 3,554 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Covenant Transportation Group during the fourth quarter valued at approximately $192,000. Hedge funds and other institutional investors own 65.35% 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.
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