Last $27.13 USD
Change Today +1.36 / 5.28%
Volume 261.5K
CVTI On Other Exchanges
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As of 8:10 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

covenant transport grp-cl a (CVTI) Snapshot

Open
$25.54
Previous Close
$25.77
Day High
$27.21
Day Low
$25.54
52 Week High
11/26/14 - $27.21
52 Week Low
12/18/13 - $7.21
Market Cap
477.7M
Average Volume 10 Days
416.1K
EPS TTM
$0.80
Shares Outstanding
15.3M
EX-Date
--
P/E TM
33.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for COVENANT TRANSPORT GRP-CL A (CVTI)

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covenant transport grp-cl a (CVTI) Details

Covenant Transportation Group, Inc., together with its subsidiaries, offers truckload transportation and brokerage services in the continental United States. Its Asset-Based Truckload Services segment provides long haul, dedicated, temperature-controlled, and regional solo-driver services. The company also offers freight brokerage services directly, as well as through freight brokerage agents; less-than-truckload consolidation services; and accounts receivable factoring services. It serves transportation companies, such as freight forwarders, less-than-truckload carriers, and third-party logistics providers, as well as traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. As of December 31, 2013, the company operated 2,688 tractors and 6,861 trailers. Covenant Transportation Group, Inc. was founded in 1994 and is headquartered in Chattanooga, Tennessee.

4,202 Employees
Last Reported Date: 03/18/14
Founded in 1994

covenant transport grp-cl a (CVTI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $546.4K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $197.2K
Chief Operating Officer, Senior Executive Vic...
Total Annual Compensation: $290.4K
President of Southern Refrigerated Transport ...
Total Annual Compensation: $250.0K
President of Star Transportation Inc
Total Annual Compensation: $184.0K
Compensation as of Fiscal Year 2013.

covenant transport grp-cl a (CVTI) Key Developments

Covenant Transportation Group, Inc. Announces Revenue Results for the Month of October 2014; Updates Earnings Guidance for the Fourth Quarter of 2014

Covenant Transportation Group, Inc. announced revenue results for the month of October 2014. Updated earnings guidance for the fourth quarter of 2014. For the month of October 2014, total revenue increased 10.9%, average freight revenue per total mile increased 10.6%, average miles per tractor per week increased 9.0%, and average freight revenue per tractor per week increased 20.5%, in each case compared with October 2013. For the first twelve days of November, average freight revenue per tractor per week increased approximately 16.0% on a preliminary basis and before month-end adjustments. Average seated truck count has increased sequentially by approximately 35 trucks for October 2014 compared with its average seated truck count for third quarter of 2014. The average number of tractors in the fleet was 2,607 in October 2014 versus 2,748 in October 2013. Fuel prices have been declining during the quarter. The company has experienced improvements in its operating results for the month of October 2014, which are expected to continue during the fourth quarter of 2014. For the fourth quarter to date, the company is experiencing the demand is trending solidly above demand in the fourth quarter of 2013. As a result of the trends, the company expects earnings per diluted share for the fourth quarter of 2014 to be materially greater than earnings per diluted share for the fourth quarter of 2013.

Covenant Transportation Group, Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Covenant Transportation Group, Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $177.58 million compared to $170.84 million a year ago. Operating income was $5.59 million compared to $5.88 million a year ago. Income before income taxes was $3.83 million compared to $4.65 million a year ago. Net income was $1.86 million or $0.12 per diluted share compared to $1.97 million or $0.13 per diluted share a year ago. Net income includes an unfavorable after-tax impact of approximately $4.6 million, or $0.30 per share, attributable to the adverse cargo claim judgment described above. For the nine months, the company reported total revenue of $512.19 million compared to $508.06 million a year ago. Operating income was $14.995 million compared to $11.52 million a year ago. Income before income taxes was $9.43 million compared to $6.06 million a year ago. Net income was $4.26 million or $0.28 per diluted share compared to $1.91 million or $0.13 per diluted share a year ago. Tangible book value per basic share was $6.83 compared to $6.78 a year ago. The company provided earnings guidance for the fourth quarter of 2014. The outlook for the fourth quarter of 2014 is positive. For the quarter-to-date, year-over-year increases in average freight revenue per mile, average miles per tractor, and resultant average freight revenue per tractor are trending at or above the year-over-year percentage increases generated during the third quarter. Capex should be about the same as it was in the third quarter, around that same range of $13 million.

Covenant Transportation Group, Inc. Provides Earnings Guidance for the Third Quarter of 2014

Covenant Transportation Group, Inc. provided earnings guidance for the third quarter of 2014. For the third quarter of 2014, the company expects to report consolidated net income in a range of $0.05 to $0.11 per diluted share. These expected results include the additional reserve for a cargo claim of $0.29 to $0.33 per diluted share related to an adverse judgment regarding a 2008 cargo claim that the company announced on September 2, 2014. On a non-GAAP basis, without the additional reserve for this cargo claim, the company expects to report consolidated net income in a range of $0.35 to $0.40 per diluted share. These expected results compare to reported consolidated net income of $0.13 per diluted share for the third quarter of 2013.

 

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CVTI

Industry Average

Valuation CVTI Industry Range
Price/Earnings 51.3x
Price/Sales 0.6x
Price/Book 3.8x
Price/Cash Flow 8.3x
TEV/Sales 0.3x
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