Covenant Logistics Group (NYSE:CVLG) Now Covered by Analysts at Stephens

Stephens began coverage on shares of Covenant Logistics Group (NYSE:CVLG) in a research report released on Wednesday,Benzinga reports. The firm issued an overweight rating and a $60.00 price objective on the stock.

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

Covenant Logistics Group Trading Up 2.8%

Shares of Covenant Logistics Group stock opened at $45.39 on Wednesday. Covenant Logistics Group has a 1 year low of $18.00 and a 1 year high of $47.08. The company’s fifty day simple moving average is $40.07 and its 200-day simple moving average is $31.60. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 302.60 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50.

Covenant Logistics Group (NYSE:CVLG) last issued 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). The firm had revenue of $307.16 million for the quarter. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.41%. As a group, sell-side analysts expect that Covenant Logistics Group will post 1.6 EPS for the current year.

Insider Activity

In other Covenant Logistics Group news, Director Joey B. Hogan sold 14,700 shares of Covenant Logistics Group stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $34.76, for a total value of $510,972.00. Following the transaction, the director owned 104,094 shares of the company’s stock, valued at approximately $3,618,307.44. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joey Ballard sold 4,282 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $37.40, for a total value of $160,146.80. Following the transaction, the executive vice president directly owned 20,867 shares of the company’s stock, valued at $780,425.80. This trade represents a 17.03% 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. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVLG. T. Rowe Price Investment Management Inc. raised its position in shares of Covenant Logistics Group by 46.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock valued at $15,748,000 after buying an additional 227,216 shares in the last quarter. LSV Asset Management raised its holdings in Covenant Logistics Group by 0.3% in the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock valued at $9,997,000 after acquiring an additional 1,314 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Covenant Logistics Group by 15.6% in the 4th quarter. Russell Investments Group Ltd. now owns 419,773 shares of the company’s stock valued at $9,252,000 after acquiring an additional 56,751 shares in the last quarter. CSM Advisors LLC lifted its position in shares of Covenant Logistics Group by 2.9% during the 3rd quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock valued at $8,744,000 after acquiring an additional 11,217 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Covenant Logistics Group by 6.1% during the 4th quarter. Royce & Associates LP now owns 316,868 shares of the company’s stock valued at $6,984,000 after acquiring an additional 18,220 shares during the period. 83.72% of the stock is owned by institutional investors.

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.