Covenant Logistics Group (CVLG) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Covenant Logistics Group (NASDAQ: CVLG) recently:

  • 4/19/2022 – Covenant Logistics Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Covenant Logistics Group Inc. offers a portfolio of transportation and logistics services, through its subsidiaries. The company services include asset-based expedited, dedicated and irregular route truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Covenant Logistics Group Inc., formerly known as Covenant Transportation Group Inc., is based in Chattanooga, Tennessee. “
  • 4/14/2022 – Covenant Logistics Group was downgraded by analysts at Cowen Inc. from an “outperform” rating to a “market perform” rating. They now have a $21.00 price target on the stock, down previously from $40.00.
  • 4/14/2022 – Covenant Logistics Group was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating. They now have a $21.00 price target on the stock, down previously from $40.00.
  • 4/12/2022 – Covenant Logistics Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Covenant Logistics Group Inc. offers a portfolio of transportation and logistics services, through its subsidiaries. The company services include asset-based expedited, dedicated and irregular route truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Covenant Logistics Group Inc., formerly known as Covenant Transportation Group Inc., is based in Chattanooga, Tennessee. “
  • 4/5/2022 – Covenant Logistics Group had its price target lowered by analysts at Wolfe Research from $21.00 to $20.00. They now have an “underperform” rating on the stock.
  • 4/5/2022 – Covenant Logistics Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. According to Zacks, “Covenant Logistics Group Inc. offers a portfolio of transportation and logistics services, through its subsidiaries. The company services include asset-based expedited, dedicated and irregular route truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Covenant Logistics Group Inc., formerly known as Covenant Transportation Group Inc., is based in Chattanooga, Tennessee. “
  • 4/1/2022 – Covenant Logistics Group was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating. They now have a $25.00 price target on the stock, down previously from $30.00.

Shares of NASDAQ CVLG opened at $19.66 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.07. Covenant Logistics Group, Inc. has a twelve month low of $17.23 and a twelve month high of $34.75. The stock has a 50 day moving average of $21.54 and a two-hundred day moving average of $24.36. The stock has a market cap of $330.64 million, a P/E ratio of 5.49 and a beta of 1.55.

Covenant Logistics Group (NASDAQ:CVLGGet Rating) last issued its quarterly earnings data on Wednesday, January 26th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. The company had revenue of $294.23 million during the quarter, compared to analysts’ expectations of $282.00 million. Covenant Logistics Group had a return on equity of 19.01% and a net margin of 5.81%. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, research analysts predict that Covenant Logistics Group, Inc. will post 3.73 earnings per share for the current year.

The business also recently announced a — dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 4th were issued a $0.0625 dividend. The ex-dividend date was Thursday, March 3rd. Covenant Logistics Group’s payout ratio is currently 6.98%.

Several large investors have recently added to or reduced their stakes in the company. Stephens Inc. AR acquired a new position in shares of Covenant Logistics Group in the fourth quarter valued at approximately $851,000. Walleye Capital LLC acquired a new position in shares of Covenant Logistics Group in the fourth quarter valued at approximately $266,000. Barclays PLC grew its holdings in Covenant Logistics Group by 25.2% during the fourth quarter. Barclays PLC now owns 32,110 shares of the company’s stock worth $848,000 after acquiring an additional 6,466 shares during the period. Goldman Sachs Group Inc. grew its holdings in Covenant Logistics Group by 19.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 34,175 shares of the company’s stock worth $903,000 after acquiring an additional 5,642 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Covenant Logistics Group by 83.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 28,651 shares of the company’s stock worth $757,000 after acquiring an additional 13,051 shares during the period. 50.15% of the stock is currently owned by institutional investors and hedge funds.

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.

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