Covenant Logistics Group (NYSE:CVLG) Coverage Initiated by Analysts at Stephens

Stephens assumed coverage on shares of Covenant Logistics Group (NYSE:CVLG) in a research report issued on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $60.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 32.57% from the company’s current price.

Other equities research analysts have also issued reports about the stock. TD Cowen boosted 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 report on Monday, April 27th. 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, Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Covenant Logistics Group Stock Performance

Shares of CVLG stock traded up $1.11 during mid-day trading on Wednesday, hitting $45.26. The stock had a trading volume of 26,960 shares, compared to its average volume of 175,129. The firm has a market cap of $1.14 billion, a PE ratio of 301.73 and a beta of 1.29. The company’s 50-day simple moving average is $39.86 and its 200-day simple moving average is $31.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. Covenant Logistics Group has a fifty-two week low of $18.00 and a fifty-two week high of $47.08.

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

Insider Activity

In other Covenant Logistics Group news, EVP Joey Ballard sold 4,282 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $37.40, for a total value of $160,146.80. Following the completion of the transaction, the executive vice president directly owned 20,867 shares in the company, valued at approximately $780,425.80. The trade was a 17.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director D Michael Kramer sold 2,650 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total value of $92,008.00. Following the transaction, the director directly owned 22,086 shares in the company, valued at approximately $766,825.92. This represents a 10.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,150 shares of company stock valued at $1,566,515 over the last 90 days. Insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On Covenant Logistics Group

Institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 valued at $15,748,000 after purchasing an additional 227,216 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Covenant Logistics Group by 161.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after buying an additional 110,810 shares during the last quarter. Algert Global LLC increased its holdings in shares of Covenant Logistics Group by 655.0% during the 3rd quarter. Algert Global LLC now owns 110,144 shares of the company’s stock worth $2,386,000 after buying an additional 95,556 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Covenant Logistics Group by 19.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock worth $7,863,000 after buying an additional 58,577 shares during the period. Finally, Polaris Capital Management LLC boosted its holdings in Covenant Logistics Group by 1,061.0% in the fourth quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock valued at $1,249,000 after acquiring an additional 51,800 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

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.