Covenant Logistics Group (NYSE:CVLG) Reaches New 52-Week High – What’s Next?

Covenant Logistics Group, Inc. (NYSE:CVLG)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $30.38 and last traded at $29.52, with a volume of 45709 shares traded. The stock had previously closed at $29.40.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Covenant Logistics Group Trading Up 0.4%

The firm has a market cap of $739.23 million, a P/E ratio of 134.14 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01. The firm has a fifty day moving average of $25.49 and a 200-day moving average of $23.08.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $295.37 million for the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.

Insider Buying and Selling at Covenant Logistics Group

In related news, CEO David Ray Parker sold 100,000 shares of Covenant Logistics Group stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $29.67, for a total value of $2,967,000.00. Following the sale, the chief executive officer directly owned 2,197,944 shares in the company, valued at $65,212,998.48. This trade represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 288,400 shares of company stock valued at $8,416,676. 35.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Covenant Logistics Group during the third quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its position in Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after acquiring an additional 487 shares during the period. Raymond James Financial Inc. bought a new stake in Covenant Logistics Group during the 2nd quarter valued at $39,000. Tower Research Capital LLC TRC boosted its position in Covenant Logistics Group by 127.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after acquiring an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Covenant Logistics Group by 204.6% during the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after acquiring an additional 2,361 shares during the period. Institutional investors 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.