Covenant Logistics Group (NYSE:CVLG) Stock Price Up 1.1% – Still a Buy?

Covenant Logistics Group, Inc. (NYSE:CVLG) rose 1.1% during trading on Monday . The stock traded as high as $28.85 and last traded at $28.76. Approximately 92,279 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 125,077 shares. The stock had previously closed at $28.44.

Wall Street Analyst Weigh In

CVLG has been the subject of several recent research reports. Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Covenant Logistics Group presently has an average rating of “Hold” and a consensus target price of $30.00.

Covenant Logistics Group Trading Down 0.8%

The company has a 50 day moving average of $27.82 and a 200 day moving average of $24.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.11. The stock has a market capitalization of $708.76 million, a price-to-earnings ratio of 128.46 and a beta of 1.15.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Covenant Logistics Group had a return on equity of 9.70% and a net margin of 0.62%.The company had revenue of $295.37 million during the quarter.

Insider Activity

In other Covenant Logistics Group news, CEO David Ray Parker sold 30,400 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $29.18, for a total value of $887,072.00. Following the completion of the sale, the chief executive officer directly owned 2,047,544 shares of the company’s stock, valued at $59,747,333.92. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 438,800 shares of company stock valued at $12,826,748. 35.10% of the stock is owned by company insiders.

Institutional Trading of Covenant Logistics Group

A number of hedge funds and other institutional investors have recently modified their holdings of CVLG. Royal Bank of Canada increased its stake in shares of Covenant Logistics Group by 90.5% in the 1st quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock worth $535,000 after acquiring an additional 11,454 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Covenant Logistics Group by 97.5% in the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock worth $1,970,000 after acquiring an additional 43,816 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Covenant Logistics Group by 108.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock worth $213,000 after acquiring an additional 4,985 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after acquiring an additional 110,810 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Covenant Logistics Group by 27.6% in the 1st quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after acquiring an additional 4,743 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

About Covenant Logistics Group

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.