Covenant Logistics Group, Inc. (NYSE:CVLG) Receives Consensus Rating of “Buy” from Analysts

Covenant Logistics Group, Inc. (NYSE:CVLG) has received an average rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.80.

Several research firms have issued reports on CVLG. Citizens Jmp initiated coverage on Covenant Logistics Group in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price objective for the company. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Covenant Logistics Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Zacks Research upgraded shares of Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Citigroup initiated coverage on shares of Covenant Logistics Group in a report on Wednesday, July 15th. They set an “outperform” rating for the company.

Covenant Logistics Group Trading Down 1.7%

CVLG stock opened at $33.61 on Thursday. Covenant Logistics Group has a 1-year low of $18.00 and a 1-year high of $49.88. The firm has a market cap of $853.02 million, a P/E ratio of 305.57 and a beta of 1.29. The business’s 50 day moving average is $40.26 and its 200-day moving average is $35.52. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.55.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $332.87 million during the quarter. Covenant Logistics Group had a return on equity of 9.14% and a net margin of 0.31%. Equities analysts anticipate that Covenant Logistics Group will post 1.6 earnings per share for the current fiscal year.

Institutional Trading of Covenant Logistics Group

Several hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Covenant Logistics Group in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets raised its position 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 acquiring an additional 487 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Covenant Logistics Group during the second quarter worth $39,000. Tower Research Capital LLC TRC lifted its stake in shares of Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after acquiring an additional 1,103 shares during the period. Finally, State of Wyoming bought a new position in Covenant Logistics Group in the fourth quarter valued at about $148,000. 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.