Covenant Logistics Group (NYSE:CVLG) Earns Overweight Rating from Analysts at Stephens

Stephens started coverage on shares of Covenant Logistics Group (NYSE:CVLG) in a research note published on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $60.00 price target on the stock.

Several other research firms have also recently weighed in on CVLG. TD Cowen increased their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings raised Covenant Logistics Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Finally, Zacks Research upgraded Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Covenant Logistics Group has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Covenant Logistics Group Stock Performance

CVLG opened at $46.00 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 $47.24. The business has a 50 day moving average of $40.52 and a 200-day moving average of $31.86. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 306.67 and a beta of 1.29.

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

Insider Buying and Selling

In other Covenant Logistics Group news, Director Joey B. Hogan sold 14,700 shares of Covenant Logistics Group stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $34.76, for a total value of $510,972.00. Following the completion of the sale, the director owned 104,094 shares in the company, valued at $3,618,307.44. The trade was a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director D Michael Kramer sold 2,650 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total transaction of $92,008.00. Following the transaction, the director owned 22,086 shares in the company, valued at approximately $766,825.92. The trade was a 10.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,150 shares of company stock valued at $1,566,515. 36.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Covenant Logistics Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc lifted its stake in Covenant Logistics Group by 3.5% in the 4th quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after purchasing an additional 365 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Covenant Logistics Group by 1.1% during the fourth quarter. Corient Private Wealth LLC now owns 41,740 shares of the company’s stock worth $920,000 after buying an additional 446 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Covenant Logistics Group by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock worth $263,000 after buying an additional 478 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Covenant Logistics Group by 2.7% in the 3rd quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock valued at $888,000 after acquiring an additional 1,068 shares during the last quarter. 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.