Covenant Logistics Group, Inc. (NYSE:CVLG) Stock Has Consensus Price Target of $51.80 According to Analysts

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $51.80.

Several research analysts recently weighed in on CVLG shares. Citigroup assumed coverage on Covenant Logistics Group in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Zacks Research cut shares of Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Stephens set a $54.00 price target on shares of Covenant Logistics Group and gave the stock an “overweight” rating in a report on Friday, July 31st. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Robert W. Baird set a $50.00 price objective on shares of Covenant Logistics Group and gave the company an “outperform” rating in a report on Wednesday, August 19th.

Covenant Logistics Group Trading Up 2.2%

NYSE CVLG opened at $33.80 on Monday. 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 $857.84 million, a PE ratio of 307.30 and a beta of 1.39. The company has a 50 day moving average price of $35.09 and a 200 day moving average price of $36.40. 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 posted its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. The company had revenue of $332.87 million during the quarter. As a group, sell-side analysts forecast that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

Institutional Trading of Covenant Logistics Group

Several large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its holdings in shares of Covenant Logistics Group by 96.4% during the second quarter. MCF Advisors LLC now owns 754 shares of the company’s stock worth $33,000 after purchasing an additional 370 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Covenant Logistics Group in the 2nd quarter worth approximately $631,000. Ranger Investment Management L.P. purchased a new position in Covenant Logistics Group during the 2nd quarter worth approximately $10,456,000. Janus Henderson Group PLC acquired a new stake in Covenant Logistics Group during the 1st quarter valued at approximately $245,000. Finally, Quantinno Capital Management LP lifted its stake in 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 acquiring an additional 14,590 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Covenant Logistics Group

Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986 as Covenant Transport, the company provides freight transportation and supply chain services to customers across North America.

Its operations include asset-based truckload transportation, dedicated transportation, expedited freight, refrigerated and dry-van services, brokerage, freight management, warehousing and distribution. Through these offerings, Covenant Logistics helps businesses move and manage goods while providing related supply chain and logistics support.

The company serves a range of industries and customer needs through a combination of company-owned equipment, contracted capacity and logistics services.