Shares of Covenant Logistics Group, Inc. (NYSE:CVLG – Get Free Report) have been assigned an average recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $47.50.
A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 7th. Citigroup began coverage on shares of Covenant Logistics Group in a research report on Wednesday. They set an “outperform” rating on the stock. TD Cowen upped their target price on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research note on Monday.
Get Our Latest Report on Covenant Logistics Group
Covenant Logistics Group Trading Up 0.4%
Covenant Logistics Group (NYSE:CVLG – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The firm had revenue of $307.16 million for the quarter. As a group, analysts anticipate that Covenant Logistics Group will post 1.6 earnings per share for the current year.
Insiders Place Their Bets
In other news, EVP Joey Ballard sold 4,282 shares of Covenant Logistics Group stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $37.40, for a total transaction of $160,146.80. Following the sale, the executive vice president owned 20,867 shares of the company’s stock, valued at approximately $780,425.80. The trade was a 17.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joey B. Hogan sold 14,700 shares of Covenant Logistics Group stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $34.76, for a total value of $510,972.00. Following the sale, the director directly owned 104,094 shares in the company, valued at approximately $3,618,307.44. The trade was a 12.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,150 shares of company stock worth $1,566,515. 36.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Covenant Logistics Group
A number of institutional investors and hedge funds have recently made changes to their positions in CVLG. Quarry LP purchased a new position in shares of Covenant Logistics Group during the third quarter valued at approximately $33,000. BNP Paribas Financial Markets grew its stake in shares of Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after buying an additional 487 shares during the last quarter. Raymond James Financial Inc. bought a new position in Covenant Logistics Group during the 2nd quarter valued at approximately $39,000. Tower Research Capital LLC TRC raised its stake 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 buying an additional 1,103 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after buying an additional 2,361 shares during the last quarter. 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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