In a report released today, Jason Seidl from Cowen & Co. maintained a Buy rating on Covenant Transportation Group (CVTI – Research Report), with a price target of $12.00. The company’s shares closed last Wednesday at $9.17.
According to TipRanks.com, Seidl is a 5-star analyst with an average return of 10.0% and a 61.2% success rate. Seidl covers the Services sector, focusing on stocks such as Expeditors International, Echo Global Logistics, and Knight Transportation.
Currently, the analyst consensus on Covenant Transportation Group is a Moderate Buy with an average price target of $11.00.
Based on Covenant Transportation Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $233 million and net profit of $1.16 million. In comparison, last year the company earned revenue of $272 million and had a net profit of $16.5 million.
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Covenant Transportation Group, Inc. is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Truckload and Managed Freight segments. The Truckload segment consists of four service offerings: Expedited; Dedicated; Temperature-Controlled; and OTR. The Managed Freight segment is comprised primarily of freight brokerage, transportation management services (TMS), and shuttle and switching services. The company was founded by David Ray Parker in 1985 and is headquartered in Chattanooga, TN.