Covenant Logistics Group, Inc. (CVLG) – What Are Brokerages Saying About This Stock?

Covenant Logistics Group, Inc. (NYSE:CVLG) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.20.

CVLG has been the subject of a number of analyst reports. National Bank Financial set a $60.00 target price on Covenant Logistics Group in a report on Wednesday, July 15th. Citigroup started coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Robert W. Baird set a $50.00 target price on shares of Covenant Logistics Group and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Covenant Logistics Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, TD Cowen decreased their price target on shares of Covenant Logistics Group from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, October 5th.

Covenant Logistics Group Price Performance

NYSE CVLG opened at $28.78 on Friday. Covenant Logistics Group has a 12 month low of $18.00 and a 12 month high of $49.88. The stock has a market cap of $730.44 million, a price-to-earnings ratio of 261.66 and a beta of 1.39. The company’s 50 day moving average is $33.00 and its two-hundred day moving average is $33.91. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.55.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $353.89 million during the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. As a group, research analysts anticipate that Covenant Logistics Group will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Covenant Logistics Group

A number of large investors have recently made changes to their positions in the stock. MCF Advisors LLC boosted its holdings in Covenant Logistics Group by 96.4% during the second quarter. MCF Advisors LLC now owns 754 shares of the company’s stock worth $33,000 after buying an additional 370 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Covenant Logistics Group by 40.2% in the third quarter. Copeland Capital Management LLC now owns 2,724 shares of the company’s stock valued at $88,000 after buying an additional 781 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Covenant Logistics Group by 100.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,299 shares of the company’s stock valued at $107,000 after buying an additional 1,652 shares in the last quarter. Vise Technologies Inc. lifted its position in shares of Covenant Logistics Group by 30.7% during the 3rd quarter. Vise Technologies Inc. now owns 7,979 shares of the company’s stock valued at $258,000 after acquiring an additional 1,875 shares during the period. Finally, Kings Path Partners LLC acquired a new stake in shares of Covenant Logistics Group during the 3rd quarter valued at approximately $275,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986, the company provides freight transportation, supply chain management and related logistics services to customers across North America.

Its operations include expedited and dedicated truckload transportation, refrigerated and temperature-controlled freight, freight brokerage, managed transportation and warehousing. Covenant also provides final-mile delivery, cross-docking, fulfillment and other distribution services designed to support customers’ supply chains.

The company serves a range of industries, including retail, consumer goods, food and beverage, automotive and manufacturing.