Covenant Logistics Group (NYSE:CVLG) Hits New 1-Year High – Should You Buy?

Covenant Logistics Group, Inc. (NYSE:CVLG) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.20 and last traded at $43.80, with a volume of 60100 shares changing hands. The stock had previously closed at $43.22.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Covenant Logistics Group in a report on Friday, May 29th. Zacks Research upgraded Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. TD Cowen boosted their price objective on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Covenant Logistics Group Stock Up 0.9%

The firm has a market capitalization of $1.10 billion, a PE ratio of 290.67 and a beta of 1.30. The company has a fifty day simple moving average of $32.92 and a two-hundred day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The firm had revenue of $307.16 million during the quarter. Analysts forecast that Covenant Logistics Group, Inc. will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Covenant Logistics Group news, EVP Joey Ballard sold 4,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $40.15, for a total value of $160,600.00. Following the completion of the sale, the executive vice president directly owned 13,149 shares in the company, valued at approximately $527,932.35. This represents a 23.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director D Michael Kramer sold 2,650 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total value of $92,008.00. Following the completion of the sale, the director owned 22,086 shares of the company’s stock, valued at $766,825.92. This represents a 10.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,150 shares of company stock worth $1,566,515. 36.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in shares of Covenant Logistics Group in the 1st quarter worth $245,000. Quantinno Capital Management LP raised its position in shares of Covenant Logistics Group by 61.1% in the 1st quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock worth $1,044,000 after acquiring an additional 14,590 shares in the last quarter. Sei Investments Co. raised its position in shares of Covenant Logistics Group by 95.8% in the 1st quarter. Sei Investments Co. now owns 51,766 shares of the company’s stock worth $1,405,000 after acquiring an additional 25,331 shares in the last quarter. DGS Capital Management LLC raised its position in shares of Covenant Logistics Group by 8.1% in the 1st quarter. DGS Capital Management LLC now owns 14,613 shares of the company’s stock worth $397,000 after acquiring an additional 1,092 shares in the last quarter. Finally, 1492 Capital Management LLC bought a new position in shares of Covenant Logistics Group in the 1st quarter worth $241,000. 83.72% of the stock is owned by institutional investors.

About Covenant Logistics Group

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.