Covenant Logistics Group, Inc. (NASDAQ:CVLG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLGGet Rating) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.75.

Several analysts have recently weighed in on the stock. Cowen downgraded shares of Covenant Logistics Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $40.00 to $21.00 in a research report on Thursday, April 14th. Zacks Investment Research downgraded shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 19th. Wolfe Research reduced their price target on shares of Covenant Logistics Group from $21.00 to $20.00 and set an “underperform” rating for the company in a research report on Tuesday, April 5th. Cowen downgraded shares of Covenant Logistics Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $40.00 to $21.00 in a research report on Thursday, April 14th. Finally, Stephens downgraded shares of Covenant Logistics Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $30.00 to $25.00 in a research report on Friday, April 1st.

Covenant Logistics Group stock traded down $0.45 during trading on Tuesday, reaching $19.24. The stock had a trading volume of 986 shares, compared to its average volume of 104,597. Covenant Logistics Group has a 52-week low of $17.23 and a 52-week high of $34.75. The business has a 50 day moving average price of $21.46 and a 200 day moving average price of $24.20. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 0.07. The stock has a market cap of $323.58 million, a PE ratio of 5.40 and a beta of 1.55.

Covenant Logistics Group (NASDAQ:CVLGGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Covenant Logistics Group had a net margin of 5.81% and a return on equity of 19.01%. The company had revenue of $294.23 million during the quarter, compared to the consensus estimate of $282.00 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, equities analysts predict that Covenant Logistics Group will post 3.61 EPS for the current fiscal year.

The firm also recently disclosed a — dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 4th were given a $0.0625 dividend. The ex-dividend date of this dividend was Thursday, March 3rd. Covenant Logistics Group’s dividend payout ratio is presently 6.98%.

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Covenant Logistics Group by 462.8% in the 3rd quarter. Millennium Management LLC now owns 225,510 shares of the company’s stock valued at $6,235,000 after purchasing an additional 185,443 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Covenant Logistics Group by 216.7% in the 4th quarter. Acadian Asset Management LLC now owns 261,150 shares of the company’s stock valued at $6,899,000 after purchasing an additional 178,692 shares in the last quarter. LSV Asset Management lifted its holdings in Covenant Logistics Group by 71.3% in the 4th quarter. LSV Asset Management now owns 394,400 shares of the company’s stock valued at $10,424,000 after purchasing an additional 164,200 shares in the last quarter. EAM Investors LLC purchased a new position in Covenant Logistics Group in the 3rd quarter valued at about $3,309,000. Finally, Assenagon Asset Management S.A. purchased a new position in Covenant Logistics Group in the 4th quarter valued at about $2,898,000. Institutional investors and hedge funds own 50.15% of the company’s stock.

About Covenant Logistics Group (Get Rating)

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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Analyst Recommendations for Covenant Logistics Group (NASDAQ:CVLG)

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