Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Get Rating) have been given an average rating of "Hold" by the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.75.
A number of equities analysts have commented on the company. Wolfe Research decreased their price target on Covenant Logistics Group from $21.00 to $20.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 5th. Cowen cut Covenant Logistics Group from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $40.00 to $21.00 in a research note on Thursday, April 14th. Zacks Investment Research cut Covenant Logistics Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 19th. Stephens cut Covenant Logistics Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $30.00 to $25.00 in a research note on Friday, April 1st. Finally, Cowen cut Covenant Logistics Group from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $40.00 to $21.00 in a research note on Thursday, April 14th.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Covenant Logistics Group by 0.7% in the third quarter. BlackRock Inc. now owns 1,470,366 shares of the company's stock worth $40,655,000 after buying an additional 10,497 shares in the last quarter. LSV Asset Management boosted its stake in Covenant Logistics Group by 71.3% during the fourth quarter. LSV Asset Management now owns 394,400 shares of the company's stock valued at $10,424,000 after buying an additional 164,200 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Covenant Logistics Group by 1.2% during the fourth quarter. Heartland Advisors Inc. now owns 369,750 shares of the company's stock valued at $9,772,000 after buying an additional 4,400 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Covenant Logistics Group by 23.8% in the 4th quarter. Millennium Management LLC now owns 279,230 shares of the company's stock valued at $7,380,000 after purchasing an additional 53,720 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Covenant Logistics Group by 216.7% in the 4th quarter. Acadian Asset Management LLC now owns 261,150 shares of the company's stock valued at $6,899,000 after purchasing an additional 178,692 shares during the last quarter. 50.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVLG traded down $0.45 during trading hours on Tuesday, reaching $19.24. 986 shares of the company's stock traded hands, compared to its average volume of 104,597. The stock has a market cap of $323.58 million, a PE ratio of 5.40 and a beta of 1.55. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.07. The firm's 50 day simple moving average is $21.46 and its 200-day simple moving average is $24.20. Covenant Logistics Group has a 12 month low of $17.23 and a 12 month high of $34.75.
Covenant Logistics Group (NASDAQ:CVLG - Get Rating) last released its earnings results on Wednesday, January 26th. The company reported $1.07 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.04 by $0.03. The company had revenue of $294.23 million during the quarter, compared to the consensus estimate of $282.00 million. Covenant Logistics Group had a return on equity of 19.01% and a net margin of 5.81%. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, analysts expect that Covenant Logistics Group will post 3.61 earnings per share for the current fiscal year.
The company also recently declared a -- dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 4th were paid a $0.0625 dividend. The ex-dividend date was Thursday, March 3rd. Covenant Logistics Group's payout ratio is 6.98%.
About Covenant Logistics Group (Get Rating)
Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.
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