Covenant Logistics Group (NYSE:CVLG) Now Covered by Citizens Jmp

Citizens Jmp assumed coverage on shares of Covenant Logistics Group (NYSE:CVLG) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a market outperform rating and a $60.00 target price on the stock.

Several other analysts also recently issued reports on CVLG. Stephens began coverage on Covenant Logistics Group in a research note on Wednesday, July 8th. They set an “overweight” rating and a $60.00 price target for the company. National Bank Financial set a $60.00 price target on shares of Covenant Logistics Group in a research report on Wednesday. Zacks Research upgraded shares of Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Wall Street Zen raised Covenant Logistics Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings downgraded Covenant Logistics Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.75.

Covenant Logistics Group Trading Down 1.2%

Covenant Logistics Group stock opened at $45.92 on Wednesday. The company’s fifty day simple moving average is $41.29 and its 200-day simple moving average is $32.43. 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 $47.83. The stock has a market cap of $1.16 billion, a P/E ratio of 306.13 and a beta of 1.29.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $307.16 million during the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. As a group, sell-side analysts forecast that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

Insider Activity

In related news, Director Joey B. Hogan sold 12,800 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total value of $501,504.00. Following the sale, the director owned 91,294 shares of the company’s stock, valued at $3,576,898.92. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director D Michael Kramer sold 2,650 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total transaction of $92,008.00. Following the completion of the transaction, the director directly owned 22,086 shares of the company’s stock, valued at $766,825.92. This trade represents a 10.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,150 shares of company stock worth $1,566,515. Corporate insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On Covenant Logistics Group

Several hedge funds and other institutional investors have recently modified their holdings of CVLG. Janus Henderson Group PLC acquired a new stake in Covenant Logistics Group in the 1st quarter valued at $245,000. Quantinno Capital Management LP raised its stake in Covenant Logistics Group by 61.1% during the first quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock worth $1,044,000 after acquiring an additional 14,590 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Covenant Logistics Group by 95.8% during the first quarter. Sei Investments Co. now owns 51,766 shares of the company’s stock valued at $1,405,000 after acquiring an additional 25,331 shares during the period. DGS Capital Management LLC lifted its holdings in shares of Covenant Logistics Group by 8.1% during the first quarter. DGS Capital Management LLC now owns 14,613 shares of the company’s stock valued at $397,000 after acquiring an additional 1,092 shares during the period. Finally, 1492 Capital Management LLC acquired a new stake in shares of Covenant Logistics Group in the 1st quarter valued at $241,000. 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.