Covenant Logistics Group, Inc. (NYSE:CVLG) Receives $47.50 Consensus Target Price from Brokerages

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) have earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.75.

CVLG has been the topic of a number of recent research reports. Citigroup began coverage on Covenant Logistics Group in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Citizens Jmp started coverage on shares of Covenant Logistics Group in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price objective for the company. Wall Street Zen raised shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings downgraded shares of Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 7th. Finally, Stephens initiated coverage on shares of Covenant Logistics Group in a report on Wednesday, July 8th. They set an “overweight” rating and a $60.00 target price for the company.

Covenant Logistics Group Stock Performance

Shares of CVLG opened at $49.79 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a 50-day moving average of $42.55 and a two-hundred day moving average of $33.16. The stock has a market cap of $1.25 billion, a P/E ratio of 331.93 and a beta of 1.29. Covenant Logistics Group has a one year low of $18.00 and a one year high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last announced its quarterly earnings data 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 net margin of 0.42% and a return on equity of 9.41%. The firm had revenue of $307.16 million during the quarter. As a group, research analysts predict that Covenant Logistics Group will post 1.6 EPS for the current year.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,650 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total transaction of $92,008.00. Following the sale, the director directly owned 22,086 shares of the company’s stock, valued at approximately $766,825.92. This trade represents a 10.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joey B. Hogan sold 12,800 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total value of $501,504.00. Following the completion of the transaction, the director directly owned 91,294 shares of the company’s stock, valued at approximately $3,576,898.92. This trade represents a 12.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 42,150 shares of company stock valued at $1,566,515. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVLG. Janus Henderson Group PLC purchased a new stake in Covenant Logistics Group in the 1st quarter worth approximately $245,000. Quantinno Capital Management LP increased its holdings in shares of Covenant Logistics Group by 61.1% during the 1st quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock valued at $1,044,000 after purchasing an additional 14,590 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Covenant Logistics Group by 95.8% during the 1st quarter. Sei Investments Co. now owns 51,766 shares of the company’s stock valued at $1,405,000 after purchasing an additional 25,331 shares in the last quarter. DGS Capital Management LLC lifted its stake in shares of Covenant Logistics Group by 8.1% in the 1st quarter. DGS Capital Management LLC now owns 14,613 shares of the company’s stock valued at $397,000 after purchasing an additional 1,092 shares during the period. Finally, 1492 Capital Management LLC acquired a new position in shares of Covenant Logistics Group in the 1st quarter valued at $241,000. 83.72% of the stock is owned by institutional investors and hedge funds.

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.