Covenant Logistics Group (NYSE:CVLG) Stock Rating Upgraded by Wall Street Zen

Covenant Logistics Group (NYSE:CVLG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

CVLG has been the topic of a number of other research reports. Stephens initiated coverage on Covenant Logistics Group in a research note on Wednesday. They issued an “overweight” rating and a $60.00 target price on the stock. Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings lowered Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, TD Cowen raised their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Covenant Logistics Group Stock Performance

Shares of NYSE:CVLG traded down $0.50 during midday trading on Friday, reaching $46.00. The company’s stock had a trading volume of 117,420 shares, compared to its average volume of 163,145. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $40.52 and a 200 day moving average of $31.86. Covenant Logistics Group has a twelve month low of $18.00 and a twelve month high of $47.24. The firm has a market capitalization of $1.16 billion, a PE ratio of 306.67 and a beta of 1.29.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.09). The business had revenue of $307.16 million during the quarter. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.41%. On average, equities analysts expect that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Covenant Logistics Group news, Director Joey B. Hogan sold 14,700 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $34.76, for a total transaction of $510,972.00. Following the transaction, the director owned 104,094 shares in the company, valued at approximately $3,618,307.44. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joey Ballard sold 4,282 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $37.40, for a total value of $160,146.80. Following the completion of the sale, the executive vice president directly owned 20,867 shares in the company, valued at approximately $780,425.80. The trade was a 17.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 42,150 shares of company stock valued at $1,566,515. 36.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Covenant Logistics Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Covenant Logistics Group during the third quarter valued at $33,000. BNP Paribas Financial Markets increased its stake in shares of Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after purchasing an additional 487 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Covenant Logistics Group during the second quarter worth about $39,000. Tower Research Capital LLC TRC raised its position in shares of Covenant Logistics Group by 127.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after purchasing an additional 1,103 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Covenant Logistics Group by 204.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after buying an additional 2,361 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Company Profile

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.