Covenant Logistics Group (NYSE:CVLG) Posts Earnings Results, Misses Estimates By $0.01 EPS

Covenant Logistics Group (NYSE:CVLG) announced its quarterly earnings data on Thursday. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01), FiscalAI reports. Covenant Logistics Group had a net margin of 2.81% and a return on equity of 10.82%. The company had revenue of $295.37 million for the quarter.

Covenant Logistics Group Trading Up 1.6%

Shares of NYSE:CVLG traded up $0.40 during trading on Thursday, reaching $25.80. The company’s stock had a trading volume of 247,395 shares, compared to its average volume of 157,842. The stock has a market capitalization of $646.21 million, a PE ratio of 21.68 and a beta of 1.21. Covenant Logistics Group has a 12 month low of $17.46 and a 12 month high of $28.50. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $23.07 and its two-hundred day simple moving average is $22.65.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVLG. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Covenant Logistics Group has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Investors Weigh In On Covenant Logistics Group

Several institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Covenant Logistics Group during the 3rd quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its stake in Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after buying an additional 487 shares during the period. Raymond James Financial Inc. purchased a new position in Covenant Logistics Group during the second quarter worth $39,000. Tower Research Capital LLC TRC increased its position in Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after acquiring an additional 1,103 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Covenant Logistics Group by 204.6% in the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after acquiring an additional 2,361 shares during the period. 83.72% of the stock is owned by institutional investors.

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.