Cowen & Co. Thinks Covenant Transportation Group’s Stock is Going to Recover


In a report released yesterday, Jason Seidl from Cowen & Co. maintained a Buy rating on Covenant Transportation Group (CVTI), with a price target of $24. The company’s shares closed yesterday at $14.77, close to its 52-week low of $13.27.

According to TipRanks.com, Seidl is a top 100 analyst with an average return of 14.9% and a 72.0% success rate. Seidl covers the Services sector, focusing on stocks such as Expeditors International, Echo Global Logistics, and Knight Transportation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Covenant Transportation Group with a $24 average price target.

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Covenant Transportation Group’s market cap is currently $272.1M and has a P/E ratio of 6.43. The company has a Price to Book ratio of 0.78.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVTI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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