Covenant Logistics Group, Inc. (NYSE:CVLG) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Covenant Logistics Group has a consensus “Buy” rating from seven analysts: four buys, two strong buys and one hold. The average 12-month price target is $51.80, well above the reported $33.61 share price.
• Recent analyst coverage has been broadly positive, including $60 price targets from National Bank Financial and Citizens JMP, while Citigroup initiated coverage with an “outperform” rating and Zacks upgraded the stock to “strong buy.”
• Institutional investors own 83.72% of the company. In its latest quarter, Covenant reported $0.42 in EPS on $332.87 million in revenue, with analysts expecting approximately $1.60 in full-year EPS.

Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) has been assigned an average rating of "Buy" from the seven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $51.80.

Several equities research analysts have recently issued reports on the stock. National Bank Financial set a $60.00 price objective on shares of Covenant Logistics Group in a research note on Wednesday, July 15th. Citigroup began coverage on shares of Covenant Logistics Group in a research note on Wednesday, July 15th. They set an "outperform" rating for the company. Citizens Jmp began 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. Zacks Research upgraded shares of Covenant Logistics Group from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Finally, 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 report on Wednesday, August 19th.

Institutional Trading of Covenant Logistics Group

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Covenant Logistics Group during the third quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its stake in Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company's stock worth $38,000 after buying an additional 487 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Covenant Logistics Group in the 2nd quarter valued at $39,000. Tower Research Capital LLC TRC raised its stake in shares of Covenant Logistics Group by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company's stock valued at $48,000 after buying an additional 1,103 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Covenant Logistics Group in the 4th quarter valued at $148,000. Institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Price Performance

NYSE CVLG opened at $33.61 on Thursday. Covenant Logistics Group has a twelve month low of $18.00 and a twelve month high of $49.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.14. The stock has a market capitalization of $853.02 million, a PE ratio of 305.57 and a beta of 1.29. The stock has a 50-day simple moving average of $40.26 and a 200 day simple moving average of $35.52.

Covenant Logistics Group (NYSE:CVLG - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter. The firm had revenue of $332.87 million for the quarter. Covenant Logistics Group had a return on equity of 9.14% and a net margin of 0.31%. Research analysts anticipate that Covenant Logistics Group will post 1.6 EPS for the current year.

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.

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