Texas (September 9, 2013) Wax Ink has issued a Positive Investment Interest opinion for Covenant Transportation Group (Nasdaq CVTI) based on a recent baseline equity review which placed fair value between $39-$46.
The recent close of $5.38 is approximately 77% below the fair value buy target for the stock and approximately 89% below the fair value close target for the stock. The recent close is also 23% below analysts' twelve-month $7.00 median price target for the stock.
The recent close represents an 11% increase in the one year price of the stock, while year-over-year sales increased 3%, year-over-year earnings increased 15%, and year-over-year debt decreased 27%.
The stock currently has a trailing twelve-month PE Ratio of 1, and a PEG Ratio of 0.2 basis estimated forward earnings growth of 9%.
In the past 52 weeks, share prices have moved between a high of $7.50 and a low of $4.25, placing equilibrium at $6.00.
With the recent close, the stock is trading 39% below the 52 week high, 21% above the 52 week low, and 11% below equilibrium.
The three-month average daily trading volume for the stock is approximately 33,000 shares.
Covenant Transportation Group together with its subsidiaries, offers truckload transportation and brokerage services in the continental United States.
The company's listed competitors include JB Hunt Transport Services, U.S. Xpress Enterprises,and Werner Enterprises,
Financial information that may be contained herein, is based on the company's most recent annual SEC filing for year ending December 31, 2012.
All prices are per share unless otherwise noted.
Wax Ink currently has no investment position in any company mentioned in this alert.
For use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D.
Copyright © 2013 Wax Ink
Wax Ink is a baseline equity research company not licensed or registered with any government agency
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.