Covenant Logistics Group (NASDAQ:CVLG) Earns “Overweight” Rating from Stephens

Covenant Logistics Group (NASDAQ:CVLG)‘s stock had its “overweight” rating reiterated by Stephens in a research note issued to investors on Friday,Benzinga reports. They presently have a $36.00 target price on the stock. Stephens’ price objective points to a potential upside of 27.32% from the stock’s previous close.

Separately, TD Cowen dropped their target price on shares of Covenant Logistics Group from $35.00 to $34.50 and set a “buy” rating on the stock in a report on Friday, October 25th.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $28.28 on Friday. The stock has a market cap of $745.33 million, a price-to-earnings ratio of 18.60 and a beta of 1.41. The firm has a 50-day moving average of $28.60 and a two-hundred day moving average of $27.10. Covenant Logistics Group has a 1 year low of $21.51 and a 1 year high of $30.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The company had revenue of $287.89 million for the quarter. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, research analysts forecast that Covenant Logistics Group will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Bradley A. Moline sold 14,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $29.82, for a total transaction of $417,480.00. Following the transaction, the director now directly owns 93,984 shares of the company’s stock, valued at approximately $2,802,602.88. This represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 36.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in Covenant Logistics Group by 0.3% in the second quarter. AQR Capital Management LLC now owns 74,704 shares of the company’s stock valued at $3,682,000 after buying an additional 236 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Covenant Logistics Group by 7.8% in the 3rd quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock valued at $260,000 after purchasing an additional 357 shares during the last quarter. Huntington National Bank acquired a new stake in Covenant Logistics Group in the 3rd quarter worth approximately $27,000. nVerses Capital LLC boosted its stake in Covenant Logistics Group by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after purchasing an additional 1,100 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Covenant Logistics Group by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock worth $257,000 after purchasing an additional 1,196 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

About Covenant Logistics Group

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.