Covenant Logistics Group (NYSE:CVLG) Hits New 12-Month High – Should You Buy?

Covenant Logistics Group, Inc. (NYSE:CVLG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $47.78 and last traded at $47.09, with a volume of 12703 shares traded. The stock had previously closed at $46.22.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVLG shares. Citigroup initiated coverage on shares of Covenant Logistics Group in a research note on Wednesday. They set an “outperform” rating on the stock. Stephens initiated coverage on shares of Covenant Logistics Group in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $60.00 price target for the company. Wall Street Zen raised shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a report on Sunday. TD Cowen increased their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut shares of Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Covenant Logistics Group has a consensus rating of “Buy” and an average price target of $53.75.

Covenant Logistics Group Stock Performance

The business has a fifty day simple moving average of $41.03 and a two-hundred day simple moving average of $32.26. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.18 billion, a P/E ratio of 312.93 and a beta of 1.29.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $307.16 million for the quarter. On average, sell-side analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Insider Transactions at Covenant Logistics Group

In other news, Director D Michael Kramer sold 2,650 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $34.72, for a total transaction of $92,008.00. Following the completion of the sale, the director owned 22,086 shares of the company’s stock, valued at $766,825.92. The trade was a 10.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joey B. Hogan sold 14,700 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was 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 of the company’s stock, valued at $3,618,307.44. This trade represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,150 shares of company stock worth $1,566,515 in the last 90 days. 36.70% of the stock is currently owned by insiders.

Institutional Trading of Covenant Logistics Group

Several hedge funds have recently bought and sold shares of CVLG. T. Rowe Price Investment Management Inc. boosted its holdings in Covenant Logistics Group by 46.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock worth $15,748,000 after buying an additional 227,216 shares during the period. Goldman Sachs Group Inc. raised its holdings in Covenant Logistics Group by 161.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock valued at $3,981,000 after acquiring an additional 110,810 shares during the period. Algert Global LLC lifted its position in shares of Covenant Logistics Group by 655.0% in the third quarter. Algert Global LLC now owns 110,144 shares of the company’s stock valued at $2,386,000 after acquiring an additional 95,556 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Covenant Logistics Group by 19.2% in the third quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock worth $7,863,000 after acquiring an additional 58,577 shares during the period. Finally, Polaris Capital Management LLC grew its position in shares of Covenant Logistics Group by 1,061.0% during the fourth quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock worth $1,249,000 after purchasing an additional 51,800 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

About Covenant Logistics Group

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.