Covenant Logistics Group (NYSE:CVLG) Stock Rating Upgraded by Robert W. Baird

Covenant Logistics Group (NYSE:CVLG) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Citizens Jmp initiated coverage on Covenant Logistics Group in a report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price target for the company. Weiss Ratings downgraded Covenant Logistics Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Citigroup started coverage on Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Wall Street Zen cut Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, National Bank Financial set a $60.00 target price on Covenant Logistics Group in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Buy” and a consensus price target of $51.80.

Covenant Logistics Group Trading Up 1.1%

NYSE:CVLG opened at $34.64 on Wednesday. Covenant Logistics Group has a 52 week low of $18.00 and a 52 week high of $49.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.14. The firm’s fifty day moving average is $41.79 and its 200-day moving average is $35.11. The firm has a market cap of $879.16 million, a P/E ratio of 314.94 and a beta of 1.32.

Covenant Logistics Group (NYSE:CVLG) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter. The business had revenue of $332.87 million during the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. Equities analysts expect that Covenant Logistics Group will post 1.6 earnings per share for the current year.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Joey B. Hogan sold 12,800 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total transaction of $501,504.00. Following the transaction, the director owned 91,294 shares of the company’s stock, valued at $3,576,898.92. This represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joey Ballard sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $40.15, for a total value of $160,600.00. Following the completion of the sale, the executive vice president owned 13,149 shares of the company’s stock, valued at approximately $527,932.35. This represents a 23.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,518 shares of company stock valued at $803,388. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Covenant Logistics Group in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its holdings in shares of Covenant Logistics Group by 45.3% during the second 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Covenant Logistics Group during the second quarter worth approximately $39,000. Tower Research Capital LLC TRC raised its position in shares of 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 worth $48,000 after purchasing an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Covenant Logistics Group by 204.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after purchasing an additional 2,361 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.