Covenant Transportation Group Gets a Buy Rating from Cowen & Co.

By Jason Carr

Cowen & Co. analyst Jason Seidl reiterated a Buy rating on Covenant Transportation Group (NASDAQ: CVTI) today and set a price target of $24. The company’s shares closed on Friday at $21.84, close to its 52-week high of $22.61.

According to, Seidl is a 5-star analyst with an average return of 8.7% and a 64.2% 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 Moderate Buy and the average price target is $22.33, representing a 2.2% upside.

In a report issued on August 14, Stephens also upgraded the stock to Buy with a $25 price target.

Covenant Transportation Group’s market cap is currently $399.4M and has a P/E ratio of 38.46. The company has a book value ratio of 1.6841.

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Covenant Transportation Group, Inc. is a holding company, which engages in the provision of freight and logistics services. Its truckload business is comprised of the following services: expedited haul, dedicated, temperature-controlled and regional solo-driver service; long haul, regional, dedicated and intermodal temperature controlled service; and regional solo-driver and dedicated services in the southeastern U.S. The company was founded by David Ray Parker in 1985 and is headquartered in Chattanooga, TN.