Covenant Logistics Group (NYSE:CVLG) Reaches New 52-Week High – What’s Next?

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.38 and last traded at $29.52, with a volume of 45709 shares. The stock had previously closed at $29.40.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.00.

Covenant Logistics Group Price Performance

The stock has a market cap of $739.23 million, a PE ratio of 134.14 and a beta of 1.21. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $25.49 and its 200 day moving average is $23.08.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $295.37 million during the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.

Insider Buying and Selling

In other Covenant Logistics Group news, CEO David Ray Parker sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $29.67, for a total transaction of $2,967,000.00. Following the transaction, the chief executive officer owned 2,197,944 shares in the company, valued at $65,212,998.48. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 288,400 shares of company stock valued at $8,416,676 over the last 90 days. Company insiders own 35.10% of the company’s stock.

Institutional Trading of Covenant Logistics Group

Large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position in shares of Covenant Logistics Group by 46.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock worth $15,748,000 after acquiring an additional 227,216 shares during the last quarter. American Century Companies Inc. grew its stake in Covenant Logistics Group by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock valued at $12,762,000 after purchasing an additional 48,582 shares in the last quarter. LSV Asset Management increased its holdings in Covenant Logistics Group by 0.3% during the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock worth $9,997,000 after purchasing an additional 1,314 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of 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 purchasing an additional 56,751 shares in the last quarter. Finally, CSM Advisors LLC boosted its stake 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 buying an additional 11,217 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.