NASDAQ:CVLG

Covenant Logistics Group (CVLG) Stock Forecast, Price & News

$43.85

+0.06 (+0.14%)

(As of 09/29/2023 ET)

Compare

Today's Range: $43.50
▼
$44.61
50-Day Range: $43.00
▼
$56.91
52-Week Range: $28.20
▼
$57.57

Volume: 46,994 shs
Average Volume: 82,041 shs
Market Capitalization: $567.86 million

P/E Ratio: 6.95
Dividend Yield: 1.00%
Price Target: $54.00

Covenant Logistics Group MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 23.1% Upside
$54.00 Price Target
Short Interest: Healthy
2.26% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 1.22
Based on 3 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 17.32%
From $4.33 to $5.08 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.94 out of 5 stars

Transportation Sector

15th out of 114 stocks

Trucking, Except Local Industry

4th out of 12 stocks

2.3

Analyst's Opinion

Consensus Rating
Covenant Logistics Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $54.00, Covenant Logistics Group has a forecasted upside of 23.1% from its current price of $43.85.
Amount of Analyst Coverage
Covenant Logistics Group has only been the subject of 1 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
2.26% of the float of Covenant Logistics Group has been sold short.
Short Interest Ratio / Days to Cover
Covenant Logistics Group has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Covenant Logistics Group has recently decreased by 29.20%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Yield
Covenant Logistics Group pays a meaningful dividend of 1.02%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Covenant Logistics Group has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Covenant Logistics Group is 6.97%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Covenant Logistics Group will have a dividend payout ratio of 8.66% next year. This indicates that Covenant Logistics Group will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for CVLG.

3.5

News and Social Media Coverage

News Sentiment
Covenant Logistics Group has a news sentiment score of 1.22. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.60 average news sentiment score of Transportation companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Covenant Logistics Group this week, compared to 1 article on an average week.
Search Interest
1 people have searched for CVLG on MarketBeat in the last 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Covenant Logistics Group insiders have not sold or bought any company stock.
Percentage Held by Insiders
35.30% of the stock of Covenant Logistics Group is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
56.48% of the stock of Covenant Logistics Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Covenant Logistics Group are expected to grow by 17.32% in the coming year, from $4.33 to $5.08 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Covenant Logistics Group is 6.95, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 119.84.
Price to Earnings Ratio vs. Sector
The P/E ratio of Covenant Logistics Group is 6.95, which means that it is trading at a less expensive P/E ratio than the Transportation sector average P/E ratio of about 12.15.
Price to Book Value per Share Ratio
Covenant Logistics Group has a P/B Ratio of 1.58. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Covenant Logistics Group (NASDAQ:CVLG) Stock

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. The Dedicated segment provides customers with committed truckload capacity over contracted periods using equipment either owned or leased by the company. The Managed Freight segment offers brokerage services, including logistics capacity by outsourcing the carriage of customers' freight to third parties; and transport management services, such as logistics services on a contractual basis to customers who prefer to outsource their logistics needs. The Warehousing segment provides day-to-day warehouse management services to customers. This segment also provides shuttle and switching services to shuttling containers and trailers. The company also engages in used equipment sales and leasing business. It serves transportation companies, such as parcel freight forwarders, less-than-truckload carriers, and third-party logistics providers; and traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. The company was formerly known as Covenant Transportation Group, Inc. and changed its name to Covenant Logistics Group, Inc. in July 2020. Covenant Logistics Group, Inc. was founded in 1986 and is based in Chattanooga, Tennessee.

CVLG Price History

30 days | 90 days | 365 days | Advanced Chart

CVLG Stock News Headlines

September 26, 2023 | finance.yahoo.com

Will Weakness in Covenant Logistics Group, Inc.'s (NASDAQ:CVLG) Stock Prove Temporary Given Strong Fundamentals?

September 5, 2023 | finance.yahoo.com

Why Covenant Logistics Group, Inc. (NASDAQ:CVLG) Could Be Worth Watching

September 30, 2023 | Stansberry Research (Ad)

Is NVIDIA Leading a "Magnificent Seven Bubble"?

The world’s massive tech leaders may be in a bubble, led by NVIDIA’s enormous rise this year. What happens next could affect all stocks.

August 24, 2023 | finance.yahoo.com

Covenant Receives Quest for Quality Award from Logistics Management

July 27, 2023 | finanznachrichten.de

Covenant Logistics Group, Inc.: Covenant Logistics Group Announces Second Quarter Financial and Operating Results

July 27, 2023 | finance.yahoo.com

Covenant Logistics Group (NASDAQ:CVLG) shareholders have earned a 40% CAGR over the last three years

July 19, 2023 | finance.yahoo.com

What's in the Cards for Covenant (CVLG) in Q2 Earnings?

July 14, 2023 | finance.yahoo.com

Covenant Logistics (CVLG) Dips More Than Broader Markets: What You Should Know

September 30, 2023 | Stansberry Research (Ad)

Is NVIDIA Leading a "Magnificent Seven Bubble"?

The world’s massive tech leaders may be in a bubble, led by NVIDIA’s enormous rise this year. What happens next could affect all stocks.

July 13, 2023 | msn.com

Covenant Logistics: Not The Time To Get In Right Now

June 15, 2023 | finance.yahoo.com

Covenant Releases 2022 Corporate Social Responsibility Report

June 14, 2023 | finance.yahoo.com

Supply & Demand Chain Executive Names Covenant Logistics as a Recipient of the 2023 Top Supply Chain Projects Award

June 12, 2023 | finance.yahoo.com

Best Value Stocks to Buy for June 12th

May 2, 2023 | msn.com

Stephens & Co. Maintains Covenant Logistics Group Inc - (CVLG) Overweight Recommendation

April 28, 2023 | markets.businessinsider.com

Covenant Logistics Group (CVLG) Receives a Rating Update from a Top Analyst

April 27, 2023 | finanznachrichten.de

Covenant Logistics Group, Inc.: Covenant Logistics Group Announces First Quarter Financial and Operating Results and Acquisition

April 20, 2023 | finance.yahoo.com

Covenant Announces Grand Opening of Hogan Hall and Orientation Training Center

April 19, 2023 | finance.yahoo.com

Is Covenant Logistics Group, Inc.'s (NASDAQ:CVLG) Recent Stock Performance Tethered To Its Strong Fundamentals?

March 29, 2023 | finance.yahoo.com

Should You Think About Buying Covenant Logistics Group, Inc. (NASDAQ:CVLG) Now?

March 14, 2023 | finance.yahoo.com

Covenant’s Misti Olszewski nominated as a Women in Trucking Association’s Top Woman to Watch

March 9, 2023 | seekingalpha.com

Covenant Logistics: Data Analytics To Hire Drivers Could Push The Price Up

March 4, 2023 | morningstar.com

Covenant Logistics Group Inc Class A

February 21, 2023 | finance.yahoo.com

Covenant Logistics Group's (NASDAQ:CVLG) Dividend Will Be Increased To $0.11

February 16, 2023 | finance.yahoo.com

Covenant Logistics Group Announces Increase to Quarterly Cash Dividend

January 31, 2023 | finance.yahoo.com

Covenant Logistics Group Announces Amended Stock Repurchase Program and 10b5-1 Trading Plan

January 31, 2023 | benzinga.com

SHAREHOLDER ALERT: Investigation of Covenant Logistics Group, Inc. (CVLG) Announced by Nationally Ranked Investors' Rights Firm Holzer & Holzer, LLC

January 30, 2023 | wsj.com

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Covenant Logistics Group, Inc. - CVLG

See More Headlines

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CVLG Company Calendar

Last Earnings: 7/26/2023
Ex-Dividend for 9/29 Dividend: 8/31/2023
Today: 9/29/2023
Dividend Payable: 9/29/2023
Next Earnings (Estimated): 10/19/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Trucking, except local
Sub-Industry: N/A
Sector: Transportation
Current Symbol: NASDAQ:CVLG
CUSIP: N/A
CIK: 928658
Web: www.covenanttransport.com
Phone: (423) 821-1212
Fax: 423-821-5442
Employees: 4,607
Year Founded: 1986

Price Target and Rating

Average Stock Price Forecast: $54.00
High Stock Price Forecast: $70.00
Low Stock Price Forecast: $38.00
Forecasted Upside/Downside: +23.1%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): $6.31
Trailing P/E Ratio: 6.95
Forward P/E Ratio: 10.13
P/E Growth: N/A
Net Income: $108.68 million
Net Margins: 7.89%
Pretax Margin: 10.22%
Return on Equity: 18.43%
Return on Assets: 8.71%

Debt

Debt-to-Equity Ratio: 0.44
Current Ratio: 1.29
Quick Ratio: 1.26

Sales & Book Value

Annual Sales: $1.22 billion
Price / Sales: 0.47
Cash Flow: $11.13 per share
Price / Cash Flow: 3.94
Book Value: $27.82 per share
Price / Book: 1.58

Miscellaneous

Outstanding Shares: 12,950,000
Free Float: 8,377,000
Market Cap: $567.86 million
Optionable: Optionable
Beta: 1.50

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Key Executives

Mr. David Ray Parker (Age 65)
Chairman & CEO
Comp: $2.12M

Mr. M. Paul Bunn (Age 45)
Pres & COO
Comp: $1.04M

Mr. James S. Grant III (Age 44)
Exec. VP & CFO
Comp: $597.16k

Mr. Joey B. Hogan (Age 61)
Exec. VP & Director
Comp: $1.48M

Mr. Samuel F. Hough (Age 57)
Exec. VP of Expedited Operations
Comp: $699.25k

Ms. Lynn Doster (Age 57)
Exec. VP of Dedicated & Warehousing Operations
Comp: $661.56k

Mr. James C. Heartfield ESQ. (Age 58)
Gen. Counsel

Ms. Joey Ballard (Age 48)
Exec. VP of People & Safety

Mr. R. H. Lovin Jr. (Age 71)
Exec. VP

Mr. William J. Cartright (Age 44)
Sr. VP of Dedicated Operations

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

CVLG Stock - Frequently Asked Questions

Should I buy or sell Covenant Logistics Group stock right now?: 2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Covenant Logistics Group in the last twelve months. There are currently 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CVLG shares.
View CVLG analyst ratings or view top-rated stocks.
What is Covenant Logistics Group's stock price forecast for 2023?: 2 Wall Street analysts have issued 1 year price targets for Covenant Logistics Group's stock. Their CVLG share price forecasts range from $38.00 to $70.00. On average, they anticipate the company's share price to reach $54.00 in the next twelve months. This suggests a possible upside of 23.1% from the stock's current price.
View analysts price targets for CVLG or view top-rated stocks among Wall Street analysts.
How have CVLG shares performed in 2023?: Covenant Logistics Group's stock was trading at $34.57 on January 1st, 2023. Since then, CVLG shares have increased by 26.8% and is now trading at $43.85.
View the best growth stocks for 2023 here.
Are investors shorting Covenant Logistics Group?: Covenant Logistics Group saw a decrease in short interest in the month of September. As of September 15th, there was short interest totaling 163,700 shares, a decrease of 29.2% from the August 31st total of 231,200 shares. Based on an average daily volume of 67,900 shares, the short-interest ratio is presently 2.4 days. Currently, 2.3% of the company's shares are sold short.
View Covenant Logistics Group's Short Interest.
When is Covenant Logistics Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 19th 2023.
View our CVLG earnings forecast.
How were Covenant Logistics Group's earnings last quarter?: Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced its quarterly earnings results on Wednesday, July, 26th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.22. The company had revenue of $274.02 million for the quarter. Covenant Logistics Group had a trailing twelve-month return on equity of 18.43% and a net margin of 7.89%.
How often does Covenant Logistics Group pay dividends? What is the dividend yield for Covenant Logistics Group?: Covenant Logistics Group declared a quarterly dividend on Monday, August 21st. Stockholders of record on Friday, September 1st will be given a dividend of $0.11 per share on Friday, September 29th. This represents a $0.44 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 31st.
Read our dividend analysis for CVLG.
What ETFs hold Covenant Logistics Group's stock?: ETFs with the largest weight of Covenant Logistics Group (NASDAQ:CVLG) stock in their portfolio include Euclidean Fundamental Value ETF (ECML), iShares US Small Cap Value Factor ETF (SVAL) and AdvisorShares Dorsey Wright Micro-Cap ETF (DWMC).Invesco DWA SmallCap Momentum ETF (DWAS).

Is Covenant Logistics Group a good dividend stock?: Covenant Logistics Group (NASDAQ:CVLG) pays an annual dividend of $0.44 per share and currently has a dividend yield of 1.02%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 6.97%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CVLG will have a dividend payout ratio of 8.66% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CVLG.
What is Covenant Logistics Group's stock symbol?: Covenant Logistics Group trades on the NASDAQ under the ticker symbol "CVLG."
How do I buy shares of Covenant Logistics Group?: Shares of CVLG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Covenant Logistics Group's stock price today?: One share of CVLG stock can currently be purchased for approximately $43.85.
How much money does Covenant Logistics Group make?: Covenant Logistics Group (NASDAQ:CVLG) has a market capitalization of $567.86 million and generates $1.22 billion in revenue each year. The company earns $108.68 million in net income (profit) each year or $6.31 on an earnings per share basis.
How many employees does Covenant Logistics Group have?: The company employs 4,607 workers across the globe.
Does Covenant Logistics Group have any subsidiaries?: The following companies are subsidiares of Covenant Logistics Group: CTG Leasing Company a Nevada corporation, Covenant Asset Management LLC a Nevada limited liability company, Covenant Logistics Inc a Nevada corporation, Covenant Transport Inc a Tennessee corporation dba Covenant Transport Services and Covenant Logistics, Covenant Transport Solutions LLC a Nevada limited liability company, Heritage Insurance Inc a Tennessee corporation, IQS Insurance Risk Retention Group Inc a Vermont corporation, Landair, Landair Holdings Inc a Tennessee corporation, Landair Leasing Inc a Tennessee corporation, Landair Logistics Inc a Tennessee corporation, Landair Transport Inc a Tennessee corporation, Southern Refrigerated Transport LLC an Arkansas limited liability company, Star Transportation LLC a Tennessee limited liability company dba Covenant Transport Services and Covenant Logistics, Transport Enterprise Leasing LLC a Georgia limited liability company, and Transport Management Services LLC a Tennessee limited liability company.
Read More
How can I contact Covenant Logistics Group?: Covenant Logistics Group's mailing address is 400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN, 37419. The official website for the company is www.covenanttransport.com. The company can be reached via phone at (423) 821-1212, via email at criric@covenanttransport.com, or via fax at 423-821-5442.

This page (NASDAQ:CVLG) was last updated on 9/30/2023 by MarketBeat.com Staff

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