Covenant Logistics Group, Inc. (NYSE:CVLG) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $53.20.

CVLG has been the topic of several recent analyst reports. Robert W. Baird set a $50.00 target price on shares of Covenant Logistics Group and gave the company an “outperform” rating in a report on Wednesday, August 19th. Citigroup started coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Zacks Research downgraded Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. National Bank Financial set a $60.00 price objective on Covenant Logistics Group in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. MCF Advisors LLC increased its holdings in Covenant Logistics Group by 96.4% during 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. Copeland Capital Management LLC lifted its holdings in shares of Covenant Logistics Group by 40.2% in the third quarter. Copeland Capital Management LLC now owns 2,724 shares of the company’s stock valued at $88,000 after purchasing an additional 781 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Covenant Logistics Group by 100.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,299 shares of the company’s stock valued at $107,000 after buying an additional 1,652 shares during the last quarter. 1492 Capital Management LLC purchased a new position in shares of Covenant Logistics Group during the first quarter valued at approximately $241,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Covenant Logistics Group during the first quarter valued at approximately $245,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Trading Up 3.4%

Shares of NYSE:CVLG opened at $30.03 on Friday. The company has a fifty day moving average of $33.21 and a 200-day moving average of $33.87. Covenant Logistics Group has a 52-week low of $18.00 and a 52-week high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data 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. As a group, equities research 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.