Covenant Logistics Group (NYSE:CVLG – Get Free Report) had its price objective dropped by research analysts at TD Cowen from $43.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 27.23% from the stock’s previous close.
CVLG has been the subject of a number of other reports. Citizens Jmp began coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price target for the company. Wall Street Zen cut Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings downgraded Covenant Logistics Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Robert W. Baird set a $50.00 price objective on Covenant Logistics Group and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, Citigroup started coverage on Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.20.
Check Out Our Latest Stock Analysis on Covenant Logistics Group
Covenant Logistics Group Stock Performance
Covenant Logistics Group (NYSE:CVLG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. The firm had revenue of $332.87 million during the quarter. Equities research analysts predict that Covenant Logistics Group will post 1.6 earnings per share for the current fiscal year.
Institutional Trading of Covenant Logistics Group
Several institutional investors and hedge funds have recently modified their holdings of the business. MCF Advisors LLC grew its position in shares of Covenant Logistics Group by 96.4% in the second quarter. MCF Advisors LLC now owns 754 shares of the company’s stock valued at $33,000 after purchasing an additional 370 shares during the last quarter. 1492 Capital Management LLC purchased a new stake in Covenant Logistics Group in the 1st quarter valued at approximately $241,000. Janus Henderson Group PLC purchased a new stake in Covenant Logistics Group in the 1st quarter valued at approximately $245,000. Public Employees Retirement System of Ohio acquired a new stake in Covenant Logistics Group during the 2nd quarter valued at $631,000. Finally, DGS Capital Management LLC increased its position in Covenant Logistics Group by 8.1% during the first quarter. DGS Capital Management LLC now owns 14,613 shares of the company’s stock worth $397,000 after buying an additional 1,092 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, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986 as Covenant Transport, the company provides freight transportation and supply chain services to customers across North America.
Its operations include asset-based truckload transportation, dedicated transportation, expedited freight, refrigerated and dry-van services, brokerage, freight management, warehousing and distribution. Through these offerings, Covenant Logistics helps businesses move and manage goods while providing related supply chain and logistics support.
The company serves a range of industries and customer needs through a combination of company-owned equipment, contracted capacity and logistics services.
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