Covenant Logistics Group (NYSE:CVLG) Price Target Raised to $35.00 at TD Cowen

Covenant Logistics Group (NYSE:CVLG) had its target price lifted by TD Cowen from $30.00 to $35.00 in a research note published on Monday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. Finally, Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.00.

Covenant Logistics Group Price Performance

Shares of CVLG opened at $34.94 on Monday. The firm has a market cap of $876.30 million, a PE ratio of 232.93 and a beta of 1.15. The firm’s 50 day moving average price is $28.26 and its 200 day moving average price is $24.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.11. Covenant Logistics Group has a twelve month low of $18.00 and a twelve month high of $35.52.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The business had revenue of $307.16 million for the quarter. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.37%. As a group, research analysts expect that Covenant Logistics Group will post 1.7 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Ray Parker sold 30,400 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $29.18, for a total value 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. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 438,800 shares of company stock valued at $12,826,748 in the last 90 days. Company insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Covenant Logistics Group

Several hedge funds and other institutional investors have recently modified their holdings of CVLG. Royal Bank of Canada grew its stake in shares of Covenant Logistics Group by 90.5% in the first quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock worth $535,000 after acquiring an additional 11,454 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Covenant Logistics Group by 97.5% in the first quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock worth $1,970,000 after acquiring an additional 43,816 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Covenant Logistics Group by 108.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock worth $213,000 after acquiring an additional 4,985 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Covenant Logistics Group by 161.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after acquiring an additional 110,810 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Covenant Logistics Group by 27.6% in the first quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after acquiring an additional 4,743 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Company Profile

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.