Covenant Logistics Group (NASDAQ:CVLG) Stock Rating Reaffirmed by Cowen

Covenant Logistics Group (NASDAQ:CVLGGet Rating)‘s stock had its “hold” rating reiterated by stock analysts at Cowen in a report released on Saturday, Stock Target Advisor reports. They presently have a $22.00 price objective on the stock. Cowen’s target price suggests a potential upside of 4.96% from the company’s previous close.

CVLG has been the subject of several other reports. Zacks Investment Research raised shares of Covenant Logistics Group from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Stephens cut shares of Covenant Logistics Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $30.00 to $25.00 in a research note on Friday, April 1st. Wolfe Research lowered their price objective on shares of Covenant Logistics Group from $21.00 to $20.00 and set an “underperform” rating for the company in a research note on Tuesday, April 5th. Finally, Cowen reissued a “hold” rating and set a $22.00 price objective on shares of Covenant Logistics Group in a research note on Friday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.40.

CVLG stock traded up $1.02 during midday trading on Friday, hitting $20.96. The stock had a trading volume of 159,983 shares, compared to its average volume of 96,107. The firm has a market cap of $326.98 million, a PE ratio of 4.93 and a beta of 1.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.30 and a quick ratio of 1.27. Covenant Logistics Group has a 12-month low of $17.23 and a 12-month high of $34.75. The company’s 50-day moving average price is $21.09 and its 200 day moving average price is $23.07.

Covenant Logistics Group (NASDAQ:CVLGGet Rating) last released its earnings results on Wednesday, April 27th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.86 by $0.49. The firm had revenue of $291.59 million during the quarter, compared to analysts’ expectations of $276.60 million. Covenant Logistics Group had a net margin of 6.43% and a return on equity of 21.98%. During the same period in the previous year, the company earned $0.56 EPS. As a group, sell-side analysts anticipate that Covenant Logistics Group will post 4.11 EPS for the current year.

Several large investors have recently bought and sold shares of CVLG. State Street Corp lifted its holdings in Covenant Logistics Group by 46.9% in the 1st quarter. State Street Corp now owns 341,090 shares of the company’s stock worth $7,344,000 after buying an additional 108,870 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Covenant Logistics Group by 33.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 61,926 shares of the company’s stock worth $1,334,000 after buying an additional 15,571 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Covenant Logistics Group by 1.6% in the 1st quarter. Prudential Financial Inc. now owns 117,670 shares of the company’s stock worth $2,534,000 after buying an additional 1,870 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Covenant Logistics Group by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 568,041 shares of the company’s stock worth $12,231,000 after buying an additional 18,602 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Covenant Logistics Group by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,635 shares of the company’s stock worth $24,580,000 after buying an additional 12,726 shares in the last quarter. Institutional investors and hedge funds own 51.03% 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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