Covenant Logistics Group, Inc. (NYSE:CVLG – Get Free Report) has been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $51.80.
CVLG has been the subject of several research analyst reports. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research downgraded Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. Citigroup assumed coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Robert W. Baird set a $50.00 price objective on shares of Covenant Logistics Group and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Finally, 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.
Read Our Latest Research Report on Covenant Logistics Group
Covenant Logistics Group Stock Down 0.0%
Covenant Logistics Group (NYSE:CVLG – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. The business 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 9.14%. Research analysts anticipate that Covenant Logistics Group will post 1.6 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. MCF Advisors LLC increased its stake in shares of Covenant Logistics Group by 96.4% in the 2nd quarter. MCF Advisors LLC now owns 754 shares of the company’s stock worth $33,000 after purchasing an additional 370 shares in the last quarter. Quarry LP bought a new position in Covenant Logistics Group in the 3rd quarter worth $33,000. BNP Paribas Financial Markets lifted its position in Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after purchasing an additional 487 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Covenant Logistics Group during the second quarter valued at $39,000. Finally, Tower Research Capital LLC TRC grew its holdings in 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 purchasing an additional 1,103 shares during the period. 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.
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