Covenant Logistics Group (NYSE:CVLG) Price Target Raised to $35.00 at TD Cowen

Key Points

• Analyst update: TD Cowen raised its price target on Covenant Logistics from $30 to $35 and maintained a "buy" rating, matching the market consensus 12‑month price target of $35.
• Earnings miss: Covenant reported Q1 EPS of $0.26 versus $0.35 expected and revenue of $307.16 million, with a thin net margin of 0.42%.
• Insider selling: CEO David Ray Parker sold 100,000 shares for about $2.97 million and insiders have sold 438,800 shares over the past three months, though insiders still own 36.7% of the company.

Covenant Logistics Group (NYSE:CVLG - Get Free Report) had its target price increased by equities research analysts at TD Cowen from $30.00 to $35.00 in a report issued on Monday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price objective points to a potential upside of 0.09% from the stock's previous close.

A number of other equities analysts have also commented on CVLG. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Wall Street Zen downgraded Covenant Logistics Group from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Zacks Research raised shares of Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.00.

Covenant Logistics Group Stock Performance

NYSE:CVLG traded up $0.90 during trading hours on Monday, reaching $34.97. The stock had a trading volume of 10,749 shares, compared to its average volume of 162,280. The stock has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $24.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.11. The stock has a market cap of $877.05 million, a P/E ratio of 233.13 and a beta of 1.15. Covenant Logistics Group has a 12-month low of $18.00 and a 12-month high of $35.14.

Covenant Logistics Group (NYSE:CVLG - Get Free Report) last released its quarterly earnings results 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 return on equity of 9.37% and a net margin of 0.42%.The company had revenue of $307.16 million during the quarter. On average, research analysts forecast that Covenant Logistics Group will post 1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Covenant Logistics Group news, CEO David Ray Parker sold 100,000 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.67, for a total value of $2,967,000.00. Following the sale, the chief executive officer directly owned 2,197,944 shares in the company, valued at $65,212,998.48. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 438,800 shares of company stock valued at $12,826,748. Company insiders own 36.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Man Group plc raised its stake in Covenant Logistics Group by 3.5% during the fourth quarter. Man Group plc now owns 10,780 shares of the company's stock valued at $238,000 after buying an additional 365 shares in the last quarter. Corient Private Wealth LLC boosted its position in Covenant Logistics Group by 1.1% in the fourth quarter. Corient Private Wealth LLC now owns 41,740 shares of the company's stock valued at $920,000 after buying an additional 446 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Covenant Logistics Group by 4.2% during the 4th quarter. SG Americas Securities LLC now owns 11,926 shares of the company's stock worth $263,000 after buying an additional 478 shares during the period. BNP Paribas Financial Markets lifted its position in Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company's stock valued at $38,000 after acquiring an additional 487 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Covenant Logistics Group by 2.7% in the third quarter. Two Sigma Investments LP now owns 40,982 shares of the company's stock valued at $888,000 after buying an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Company Profile

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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