Covenant Logistics Group, Inc. (NYSE:CVLG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $52.25.

Several brokerages have issued reports on CVLG. Zacks Research raised Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Stephens set a $54.00 price objective on Covenant Logistics Group and gave the company an “overweight” rating in a research report on Friday, July 31st. Citizens Jmp started coverage on Covenant Logistics Group in a report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price objective on the stock. Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered Covenant Logistics Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday.

Covenant Logistics Group Stock Performance

Covenant Logistics Group stock opened at $34.65 on Friday. Covenant Logistics Group has a fifty-two week low of $18.00 and a fifty-two week high of $49.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market cap of $872.14 million, a P/E ratio of 315.03 and a beta of 1.32. The firm’s fifty day moving average price is $42.80 and its 200-day moving average price is $34.79.

Covenant Logistics Group (NYSE:CVLG) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter. The company had revenue of $332.87 million during the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.15%. On average, equities research analysts expect that Covenant Logistics Group will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Joey B. Hogan sold 12,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total value of $501,504.00. Following the completion of the sale, the director directly owned 91,294 shares in the company, valued at approximately $3,576,898.92. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joey Ballard sold 4,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $40.15, for a total transaction of $160,600.00. Following the completion of the sale, the executive vice president directly owned 13,149 shares of the company’s stock, valued at $527,932.35. This trade represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 24,800 shares of company stock valued at $963,535. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVLG. Quarry LP purchased a new position in shares of Covenant Logistics Group in the third quarter worth about $33,000. BNP Paribas Financial Markets boosted its holdings in Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after acquiring an additional 487 shares during the period. Raymond James Financial Inc. purchased a new stake in Covenant Logistics Group during the 2nd quarter valued at about $39,000. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 1,103 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Covenant Logistics Group by 204.6% during the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after acquiring an additional 2,361 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

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.