Covenant Logistics Group, Inc. (NYSE:CVLG) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Covenant Logistics Group has a “Moderate Buy” consensus rating from seven analysts, with four buys, one strong buy, one hold, and one sell. The average 12-month price target is $51.80.
• CVLG opened at $32.56, well below its analyst target, but trades at a high P/E ratio of 296.03. The stock has ranged from $18.00 to $49.88 over the past year.
• The company reported quarterly EPS of $0.42 on revenue of $332.87 million, while institutional investors and hedge funds own 83.72% of its shares.

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) have been given an average rating of "Moderate Buy" by the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $51.80.

Several brokerages recently issued reports on CVLG. Citigroup began coverage on Covenant Logistics Group in a report on Wednesday, July 15th. They issued an "outperform" rating for the company. National Bank Financial set a $60.00 price objective on Covenant Logistics Group in a research note on Wednesday, July 15th. Wall Street Zen downgraded Covenant Logistics Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Stephens set a $54.00 target price on Covenant Logistics Group and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded Covenant Logistics Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 11th.

Covenant Logistics Group Price Performance

CVLG opened at $32.56 on Monday. 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 has a 52-week low of $18.00 and a 52-week high of $49.88. The company has a 50 day moving average of $36.64 and a two-hundred day moving average of $36.21. The company has a market cap of $826.31 million, a P/E ratio of 296.03 and a beta of 1.29.

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

Institutional Trading of Covenant Logistics Group

Several large investors have recently bought and sold shares of the company. Ranger Investment Management L.P. acquired a new position in shares of Covenant Logistics Group during the second quarter worth $10,456,000. Sei Investments Co. grew its stake in Covenant Logistics Group by 95.8% during the 1st quarter. Sei Investments Co. now owns 51,766 shares of the company's stock valued at $1,405,000 after purchasing an additional 25,331 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Covenant Logistics Group by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company's stock worth $920,000 after purchasing an additional 446 shares during the last quarter. Wesbanco Bank Inc. raised its position in shares of Covenant Logistics Group by 88.4% in the 1st quarter. Wesbanco Bank Inc. now owns 40,500 shares of the company's stock valued at $1,100,000 after purchasing an additional 19,000 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Covenant Logistics Group by 61.1% in the 1st quarter. Quantinno Capital Management LP now owns 38,453 shares of the company's stock valued at $1,044,000 after purchasing an additional 14,590 shares in the last quarter. Institutional investors and hedge funds 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. The company provides freight transportation, supply chain management and related services primarily throughout the United States, serving manufacturers, retailers, distributors and other commercial customers.

Its operations include dedicated and expedited truckload transportation, refrigerated and dry-van freight services, freight brokerage, warehousing and distribution, and transportation management.

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