Covenant Logistics Group, Inc. (NYSE:CVLG – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $53.20.
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 research note on Saturday, August 8th. Robert W. Baird set a $50.00 target price on Covenant Logistics Group and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Stephens set a $54.00 target price on Covenant Logistics Group and gave the stock an “overweight” rating in a research note on Friday, July 31st. National Bank Financial set a $60.00 price target on Covenant Logistics Group in a report on Wednesday, July 15th. Finally, Citizens Jmp began coverage on 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.
Get Our Latest Research Report on CVLG
Institutional Investors Weigh In On Covenant Logistics Group
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ranger Investment Management L.P. bought a new stake in Covenant Logistics Group during the second quarter valued at approximately $10,456,000. Sei Investments Co. grew its stake in Covenant Logistics Group by 95.8% in the 1st quarter. Sei Investments Co. now owns 51,766 shares of the company’s stock worth $1,405,000 after buying an additional 25,331 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Covenant Logistics Group by 88.4% in the 1st quarter. Wesbanco Bank Inc. now owns 40,500 shares of the company’s stock worth $1,100,000 after buying an additional 19,000 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Covenant Logistics Group by 61.1% in the 1st quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock worth $1,044,000 after buying an additional 14,590 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Covenant Logistics Group by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company’s stock worth $920,000 after buying an additional 446 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.
Covenant Logistics Group Stock Performance
NYSE CVLG opened at $29.80 on Friday. The company’s 50 day simple moving average is $33.55 and its two-hundred day simple moving average is $36.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.10. Covenant Logistics Group has a 1 year low of $18.00 and a 1 year high of $49.88. The stock has a market capitalization of $756.32 million, a PE ratio of 270.93 and a beta of 1.39.
Covenant Logistics Group (NYSE:CVLG – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. The firm 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%. Analysts predict that Covenant Logistics Group will post 1.55 earnings per share for the current fiscal year.
About Covenant Logistics Group
Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986, the company provides freight transportation, supply chain management and related logistics services to customers across North America.
Its operations include expedited and dedicated truckload transportation, refrigerated and temperature-controlled freight, freight brokerage, managed transportation and warehousing. Covenant also provides final-mile delivery, cross-docking, fulfillment and other distribution services designed to support customers’ supply chains.
The company serves a range of industries, including retail, consumer goods, food and beverage, automotive and manufacturing.
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