Covenant Logistics Group (NYSE:CVLG) Stock Price Up 10.3% – What’s Next?

Covenant Logistics Group, Inc. (NYSE:CVLG) shares were up 10.3% on Monday. The stock traded as high as $31.80 and last traded at $31.80. 3,119 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 187,326 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

Several analysts have recently issued reports on CVLG shares. Citizens Jmp initiated coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $60.00 price target on the stock. National Bank Financial set a $60.00 price objective on shares of Covenant Logistics Group in a report on Wednesday, July 15th. Robert W. Baird set a $50.00 price objective on shares of Covenant Logistics Group and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Weiss Ratings cut shares of Covenant Logistics Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, Zacks Research cut shares of Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.20.

Covenant Logistics Group Price Performance

The business’s 50-day moving average price is $32.86 and its 200 day moving average price is $34.02. The company has a market capitalization of $849.47 million, a P/E ratio of 209.19 and a beta of 1.44. The company has a quick ratio of 1.10, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Covenant Logistics Group (NYSE:CVLG) last posted its earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.64%. The business had revenue of $353.89 million for the quarter. Analysts anticipate that Covenant Logistics Group, Inc. will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MCF Advisors LLC increased its stake in Covenant Logistics Group by 96.4% in the 2nd quarter. MCF Advisors LLC now owns 754 shares of the company’s stock worth $33,000 after acquiring an additional 370 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Covenant Logistics Group by 40.2% in the 3rd quarter. Copeland Capital Management LLC now owns 2,724 shares of the company’s stock valued at $88,000 after acquiring an additional 781 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Covenant Logistics Group by 100.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,299 shares of the company’s stock valued at $107,000 after acquiring an additional 1,652 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Covenant Logistics Group during the 3rd quarter valued at about $220,000. Finally, Vise Technologies Inc. boosted its position in shares of Covenant Logistics Group by 30.7% during the 3rd quarter. Vise Technologies Inc. now owns 7,979 shares of the company’s stock valued at $258,000 after acquiring an additional 1,875 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

About Covenant Logistics Group

Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986, the company provides freight transportation, supply chain management and related logistics services to customers across North America.

Its operations include expedited and dedicated truckload transportation, refrigerated and temperature-controlled freight, freight brokerage, managed transportation and warehousing. Covenant also provides final-mile delivery, cross-docking, fulfillment and other distribution services designed to support customers’ supply chains.

The company serves a range of industries, including retail, consumer goods, food and beverage, automotive and manufacturing.