Covenant Logistics Group (NYSE:CVLG) Downgraded by Zacks Research to Hold

Covenant Logistics Group (NYSE:CVLG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

CVLG has been the subject of a number of other research reports. Weiss Ratings raised shares of Covenant Logistics Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Robert W. Baird set a $50.00 price objective on Covenant Logistics Group and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Citizens Jmp began coverage on Covenant Logistics Group in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $60.00 target price for the company. Finally, National Bank Financial set a $60.00 target price on Covenant Logistics Group in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Covenant Logistics Group currently has an average rating of “Moderate Buy” and a consensus target price of $51.80.

Covenant Logistics Group Stock Up 0.5%

Shares of NYSE:CVLG opened at $35.22 on Monday. Covenant Logistics Group has a 12 month low of $18.00 and a 12 month high of $49.88. The company’s 50-day moving average price is $39.51 and its two-hundred day moving average price is $35.68. The company has a quick ratio of 1.10, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market cap of $893.88 million, a P/E ratio of 320.21 and a beta of 1.29.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. The firm had revenue of $332.87 million during the quarter. As a group, research analysts forecast that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

Institutional Trading of Covenant Logistics Group

Institutional investors have recently bought and sold shares of the business. Man Group plc increased its holdings in Covenant Logistics Group by 3.5% in the fourth quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after purchasing an additional 365 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Covenant Logistics Group by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company’s stock worth $920,000 after buying an additional 446 shares during the period. BNP Paribas Financial Markets increased 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 valued at $38,000 after acquiring an additional 487 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Covenant Logistics Group by 2.7% in the 3rd quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock valued at $888,000 after acquiring an additional 1,068 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Covenant Logistics Group by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,705 shares of the company’s stock worth $391,000 after acquiring an additional 1,072 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.