Covenant Logistics Group, Inc. (NYSE:CVLG) Receives Average Rating of “Buy” from Analysts

Covenant Logistics Group, Inc. (NYSE:CVLG) has been given a consensus recommendation of “Buy” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $52.25.

Several brokerages have commented on CVLG. TD Cowen increased their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday. Stephens set a $54.00 target price on shares of Covenant Logistics Group and gave the company an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Covenant Logistics Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th.

Insider Activity

In other news, Director Joey B. Hogan sold 12,800 shares of Covenant Logistics Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $39.18, for a total transaction of $501,504.00. Following the sale, the director owned 91,294 shares in the company, valued at approximately $3,576,898.92. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joey Ballard sold 4,282 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $37.40, for a total value of $160,146.80. Following the completion of the sale, the executive vice president directly owned 20,867 shares of the company’s stock, valued at $780,425.80. The trade was a 17.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 24,800 shares of company stock worth $963,535. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Covenant Logistics Group by 46.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock valued at $15,748,000 after acquiring an additional 227,216 shares during the period. LSV Asset Management increased its holdings in shares of Covenant Logistics Group by 0.3% in the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock valued at $9,997,000 after acquiring an additional 1,314 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Covenant Logistics Group by 15.6% in the 4th quarter. Russell Investments Group Ltd. now owns 419,773 shares of the company’s stock valued at $9,252,000 after acquiring an additional 56,751 shares during the period. Royce & Associates LP raised its position in Covenant Logistics Group by 6.1% in the 4th quarter. Royce & Associates LP now owns 316,868 shares of the company’s stock valued at $6,984,000 after purchasing an additional 18,220 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Covenant Logistics Group by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 299,530 shares of the company’s stock worth $6,602,000 after purchasing an additional 48,571 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Stock Down 0.5%

Covenant Logistics Group stock opened at $34.77 on Friday. The stock has a market cap of $875.16 million, a PE ratio of 316.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. The stock’s fifty day moving average is $43.44 and its two-hundred day moving average is $34.52. Covenant Logistics Group has a 1-year low of $18.00 and a 1-year high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter. Covenant Logistics Group had a return on equity of 9.15% and a net margin of 0.31%.The business had revenue of $332.87 million during the quarter. On average, sell-side analysts expect that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

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.