Covenant Logistics Group (NYSE:CVLG) Research Coverage Started at Citizens Jmp

Citizens Jmp started coverage on shares of Covenant Logistics Group (NYSE:CVLG) in a report released on Wednesday, Marketbeat reports. The brokerage issued a market outperform rating and a $60.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded Covenant Logistics Group from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. TD Cowen lifted their price target on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Zacks Research raised Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Weiss Ratings downgraded Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. Finally, Stephens started coverage on Covenant Logistics Group in a research report on Wednesday, July 8th. They set an “overweight” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Covenant Logistics Group presently has a consensus rating of “Buy” and a consensus price target of $53.75.

Covenant Logistics Group Price Performance

CVLG stock opened at $47.19 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. Covenant Logistics Group has a 12 month low of $18.00 and a 12 month high of $49.33. The firm has a market cap of $1.19 billion, a P/E ratio of 314.60 and a beta of 1.29. The company’s 50-day moving average price is $41.87 and its two-hundred day moving average price is $32.71.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The firm had revenue of $307.16 million for the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. On average, analysts anticipate that Covenant Logistics Group will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Joey B. Hogan sold 12,800 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total transaction of $501,504.00. Following the completion of the transaction, the director directly owned 91,294 shares in the company, valued at approximately $3,576,898.92. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joey Ballard sold 4,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $40.15, for a total value of $160,600.00. Following the completion of the transaction, the executive vice president owned 13,149 shares of the company’s stock, valued at $527,932.35. The trade was a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,150 shares of company stock worth $1,566,515 over the last quarter. Corporate insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On Covenant Logistics Group

Institutional investors and hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in Covenant Logistics Group by 46.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock valued at $15,748,000 after acquiring an additional 227,216 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Covenant Logistics Group by 161.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after purchasing an additional 110,810 shares during the period. Algert Global LLC lifted its holdings in shares of Covenant Logistics Group by 655.0% during the third quarter. Algert Global LLC now owns 110,144 shares of the company’s stock worth $2,386,000 after purchasing an additional 95,556 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Covenant Logistics Group by 19.2% in the third quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock worth $7,863,000 after purchasing an additional 58,577 shares during the last quarter. Finally, Polaris Capital Management LLC grew its stake in shares of Covenant Logistics Group by 1,061.0% in the fourth quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock worth $1,249,000 after purchasing an additional 51,800 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.