Covenant Logistics Group (CVLG) to Release Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect Covenant Logistics Group to post earnings of $0.87 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. The firm had revenue of $273.99 million during the quarter. On average, analysts expect Covenant Logistics Group to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Covenant Logistics Group Price Performance

CVLG stock opened at $44.92 on Wednesday. The company has a market capitalization of $587.10 million, a PE ratio of 11.15 and a beta of 1.41. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $47.75 and its two-hundred day moving average is $45.43. Covenant Logistics Group has a 52-week low of $33.58 and a 52-week high of $57.57.

Covenant Logistics Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.98%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 10.92%.

Insiders Place Their Bets

In other news, EVP Samuel F. Hough sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total value of $206,200.00. Following the transaction, the executive vice president now directly owns 25,125 shares in the company, valued at approximately $1,295,193.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Samuel F. Hough sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total transaction of $206,200.00. Following the completion of the transaction, the executive vice president now directly owns 25,125 shares of the company’s stock, valued at $1,295,193.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Ray Parker sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $54.43, for a total value of $272,150.00. Following the completion of the sale, the chief executive officer now directly owns 325,737 shares in the company, valued at approximately $17,729,864.91. The disclosure for this sale can be found here. Insiders sold a total of 117,667 shares of company stock valued at $6,078,403 over the last 90 days. 29.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Covenant Logistics Group

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Covenant Logistics Group by 299.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 871 shares of the company’s stock worth $38,000 after purchasing an additional 653 shares during the last quarter. UBS Group AG grew its holdings in Covenant Logistics Group by 2,728.1% in the 3rd quarter. UBS Group AG now owns 1,810 shares of the company’s stock worth $52,000 after buying an additional 1,746 shares in the last quarter. Clear Street Markets LLC acquired a new stake in Covenant Logistics Group in the 4th quarter valued at approximately $81,000. BNP Paribas Financial Markets raised its stake in Covenant Logistics Group by 75.2% during the 4th quarter. BNP Paribas Financial Markets now owns 2,178 shares of the company’s stock valued at $100,000 after acquiring an additional 935 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Covenant Logistics Group by 586.8% during the 2nd quarter. Citigroup Inc. now owns 2,747 shares of the company’s stock worth $120,000 after acquiring an additional 2,347 shares during the period. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVLG. TD Cowen raised shares of Covenant Logistics Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $66.00 in a report on Thursday, January 25th. Vertical Research initiated coverage on Covenant Logistics Group in a report on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price objective for the company.

About Covenant Logistics Group

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.