Covenant Logistics Group (NYSE:CVLG) Stock Rating Upgraded by Wall Street Zen

Covenant Logistics Group (NYSE:CVLG) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

CVLG has been the subject of several other reports. Zacks Research lowered Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Covenant Logistics Group currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Covenant Logistics Group Trading Up 0.3%

NYSE:CVLG opened at $29.49 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01. The firm has a 50-day simple moving average of $26.19 and a 200-day simple moving average of $23.31. Covenant Logistics Group has a one year low of $17.46 and a one year high of $30.38. The firm has a market cap of $738.72 million, a P/E ratio of 134.05 and a beta of 1.21.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $295.37 million during the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.

Insiders Place Their Bets

In other news, CEO David Ray Parker sold 30,400 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $29.18, for a total transaction of $887,072.00. Following the sale, the chief executive officer owned 2,047,544 shares in the company, valued at approximately $59,747,333.92. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 438,800 shares of company stock valued at $12,826,748 over the last three months. 35.10% of the stock is currently owned by company insiders.

Institutional Trading of Covenant Logistics Group

Large investors have recently bought and sold shares of the stock. Man Group plc increased its stake in Covenant Logistics Group by 3.5% during the 4th quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after purchasing an additional 365 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Covenant Logistics Group by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company’s stock valued at $920,000 after acquiring an additional 446 shares during the period. SG Americas Securities LLC increased its position in shares of Covenant Logistics Group by 4.2% in the 4th quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock valued at $263,000 after acquiring an additional 478 shares during the period. BNP Paribas Financial Markets raised its stake in Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after acquiring an additional 487 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Covenant Logistics Group by 0.4% during the 2nd quarter. Empowered Funds LLC now owns 173,532 shares of the company’s stock valued at $4,184,000 after purchasing an additional 744 shares during the last quarter. Hedge funds and other institutional investors 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.