Stock of the Day: Could Covenant Transportation Group, Inc. Rise Even More? The Stock Had Another Big Increase Today

Stock of the Day: Could Covenant Transportation Group, Inc. Rise Even More? The Stock Had Another Big Increase Today

The stock of Covenant Transportation Group, Inc. (NASDAQ:CVTI) is a huge mover today! The stock increased 4.26% or $0.82 on November 23, hitting $20.07. About 140,447 shares traded hands. Covenant Transportation Group, Inc. (NASDAQ:CVTI) has declined 11.43% since April 22, 2016 and is downtrending. It has underperformed by 16.84% the S&P500.
The move comes after 9 months positive chart setup for the $370.16 million company. It was reported on Nov, 24 by Barchart.com. We have $20.67 PT which if reached, will make NASDAQ:CVTI worth $11.10M more.

Analysts await Covenant Transportation Group, Inc. (NASDAQ:CVTI) to report earnings on January, 23. They expect $0.38 EPS, down 47.95% or $0.35 from last year’s $0.73 per share. CVTI’s profit will be $7.01M for 13.20 P/E if the $0.38 EPS becomes a reality. After $0.16 actual EPS reported by Covenant Transportation Group, Inc. for the previous quarter, Wall Street now forecasts 137.50% EPS growth.

Covenant Transportation Group, Inc. (NASDAQ:CVTI) Ratings Coverage

Out of 4 analysts covering Covenant Transportation Group (NASDAQ:CVTI), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Covenant Transportation Group has been the topic of 8 analyst reports since October 19, 2015 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Outperform” rating in Friday, October 21 report. The firm earned “Buy” rating on Thursday, October 20 by Stifel Nicolaus. Cowen & Co maintained the stock with “Outperform” rating in Wednesday, January 27 report. Avondale downgraded it to “Market Perform” rating and $20 target price in Monday, March 14 report. The stock of Covenant Transportation Group, Inc. (NASDAQ:CVTI) has “Buy” rating given on Wednesday, March 23 by Stifel Nicolaus. Cowen & Co maintained it with “Outperform” rating and $34 target price in Wednesday, December 16 report. The firm has “Outperform” rating given on Friday, October 14 by Cowen & Co.

According to Zacks Investment Research, “Covenant Transport, Inc. is a truckload carrier that offers just-in-time and other premium transportation service for customers throughout the United States.”

Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.08, from 1.11 in 2016Q1. The ratio is positive, as 18 funds sold all Covenant Transportation Group, Inc. shares owned while 20 reduced positions. 12 funds bought stakes while 30 increased positions. They now own 11.23 million shares or 4.18% more from 10.78 million shares in 2016Q1.
Gsa Prns Llp, a United Kingdom-based fund reported 68,738 shares. Basswood Management accumulated 222,602 shares or 0.23% of the stock. Horrell Capital Mgmt holds 27,000 shares or 0.41% of its portfolio. Next Century Growth Invsts Limited Liability Corporation last reported 0.24% of its portfolio in the stock. Teachers Advsrs has invested 0% of its portfolio in Covenant Transportation Group, Inc. (NASDAQ:CVTI). Moreover, Blackrock has 0% invested in Covenant Transportation Group, Inc. (NASDAQ:CVTI) for 2,950 shares. Blackrock Advsrs Limited Liability holds 0% of its portfolio in Covenant Transportation Group, Inc. (NASDAQ:CVTI) for 5,724 shares. Croft accumulated 0.09% or 21,000 shares. Alliancebernstein Lp has 1.22 million shares for 0.02% of their US portfolio. The Ohio-based James Inv Research has invested 0.07% in Covenant Transportation Group, Inc. (NASDAQ:CVTI). Amer Int Grp Inc Inc last reported 6,829 shares in the company. Shinko Asset Mngmt holds 0.02% or 149,408 shares in its portfolio. Wall Street Associate has 15,700 shares for 0.11% of their US portfolio. Manufacturers Life The has invested 0% of its portfolio in Covenant Transportation Group, Inc. (NASDAQ:CVTI). Waddell & Reed Fincl Inc holds 812,800 shares or 0.03% of its portfolio.

More important recent Covenant Transportation Group, Inc. (NASDAQ:CVTI) news were published by: Marketwatch.com which released: “Covenant Transportation downgraded to hold from buy at BB&T Capital” on December 21, 2009, also Globenewswire.com published article titled: “Covenant Transportation Group Updates Expectations Concerning Second Quarter …”, Globenewswire.com published: “Covenant Transportation Group Announces Executive Team Changes” on February 18, 2016. More interesting news about Covenant Transportation Group, Inc. (NASDAQ:CVTI) was released by: Equitiesfocus.com and their article: “Covenant Transportation Group, Inc. (NASDAQ:CVTI) Quarterly EPS From …” with publication date: November 24, 2016.

CVTI Company Profile

Covenant Transportation Group, Inc., incorporated on May 24, 1994, is a truckload transportation company. The Firm provides truckload transportation and brokerage services to clients throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. The Firm operates through the asset truckload services (Truckload) segment. The Truckload segment consists of three asset operating fleets: Covenant Transport, Inc. (Covenant Transport), which provides expedited long haul, dedicated, temperature-controlled, and regional solo-driver service; Southern Refrigerated Transport, Inc. (SRT), which provides primarily long haul, regional, and intermodal temperature-controlled service, and Star Transportation, Inc. (Star), which provides regional solo-driver and services, primarily in the southeastern United States. In addition, its Covenant Transport Solutions, Inc. (Solutions) subsidiary has service offerings ancillary to its Truckload operations, including freight brokerage service directly and through freight brokerage agents that paid a commission for the freight they provide, and accounts receivable factoring.

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