Covenant Logistics Group (NYSE:CVLG) Hits New 52-Week High – Time to Buy?

Covenant Logistics Group, Inc. (NYSE:CVLG)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $36.09 and last traded at $36.02, with a volume of 115223 shares changing hands. The stock had previously closed at $35.27.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVLG. TD Cowen upped their target price 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. Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.00.

Covenant Logistics Group Trading Up 2.3%

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 firm has a market capitalization of $908.17 million, a price-to-earnings ratio of 240.53 and a beta of 1.28. The business’s fifty day moving average is $29.38 and its 200 day moving average is $25.91.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings data 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 business had revenue of $307.16 million during the quarter. Equities analysts predict that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current year.

Insider Transactions at Covenant Logistics Group

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,650 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $34.72, for a total value of $92,008.00. Following the completion of the sale, the director owned 22,086 shares in the company, valued at $766,825.92. This trade represents a 10.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Ray Parker sold 65,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total transaction of $1,907,100.00. Following the completion of the sale, the chief executive officer owned 2,132,944 shares of the company’s stock, valued at approximately $62,580,576.96. This represents a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 167,750 shares of company stock worth $5,013,052 in the last three months. Insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in Covenant Logistics Group during the 1st quarter worth approximately $245,000. Quantinno Capital Management LP lifted its holdings in Covenant Logistics Group by 61.1% during the 1st quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock worth $1,044,000 after purchasing an additional 14,590 shares during the last quarter. Sei Investments Co. grew its stake in shares of Covenant Logistics Group by 95.8% in 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 in the last quarter. DGS Capital Management LLC grew its stake in shares of Covenant Logistics Group by 8.1% in 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 in the last quarter. Finally, 1492 Capital Management LLC acquired a new stake in shares of Covenant Logistics Group in the first quarter valued at approximately $241,000. Institutional investors and hedge funds 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.