Stock BuybacksBy The Online Investor Staff, updated Tue., Feb. 18, 3:10 PM
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Slide #7. Covenant Transportation Group, Inc.
Covenant Transportation Group, Inc. (NASDAQ:CVTI)
Covenant Transportation Group, Inc. (NASDAQ/GS: CVTI) (the "Company") announced today that its Board of Directors has approved a stock repurchase program authorizing the purchase of up to $20 million of the Company's Class A common stock from time-to-time based upon market conditions and other factors. The stock may be repurchased on the open market or in privately negotiated transactions. The repurchased shares will be held as treasury stock and may be used for general corporate purposes as the Board may determine. The Company did not place a limit on the duration of the repurchase program.
Covenant Transportation Group is a holding company. Through its subsidiaries, Co. provides truckload transportation and brokerage services through truckload services (Truckload) and Managed Freight segments. The Truckload segment consists of: Expedited, which involves high service freight with delivery standards; Dedicated, which involves longer-term contracts that allocate a specified number of tractors and trailers to a customer; Refrigerated, which includes fresh and frozen foods, pharmaceuticals, cosmetics, and other freight; and over-the-road. In addition, Co.'s Managed Freight segment includes freight brokerage, transportation management services, and shuttle and switching services.
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Buy (3.33 out of 4)
(ranked higher than approx. 57% of all stocks covered)
Based on Zacks ABR data;
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