Covenant Logistics Group (CVLG) to Release Quarterly Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, January 25th. Analysts expect the company to announce earnings of $1.50 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Covenant Logistics Group Trading Up 0.3 %

Shares of CVLG traded up $0.12 during mid-day trading on Tuesday, reaching $37.24. 52,475 shares of the company were exchanged, compared to its average volume of 79,598. The business has a 50 day simple moving average of $36.79 and a two-hundred day simple moving average of $33.36. Covenant Logistics Group has a 52 week low of $17.23 and a 52 week high of $40.37. The stock has a market capitalization of $502.52 million, a PE ratio of 5.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.30 and a current ratio of 1.33.

Covenant Logistics Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.86%. Covenant Logistics Group’s dividend payout ratio is currently 4.37%.

Analyst Upgrades and Downgrades

CVLG has been the subject of several recent analyst reports. Wolfe Research raised Covenant Logistics Group from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 10th. Cowen raised their target price on Covenant Logistics Group to $38.00 in a research note on Thursday, October 27th. Finally, Stephens raised their price objective on Covenant Logistics Group from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 24th.

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director Bradley A. Moline sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $36.24, for a total value of $724,800.00. Following the completion of the sale, the director now owns 49,399 shares of the company’s stock, valued at $1,790,219.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Covenant Logistics Group by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,141,635 shares of the company’s stock valued at $24,580,000 after purchasing an additional 12,726 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Covenant Logistics Group by 3.4% during the first quarter. Vanguard Group Inc. now owns 568,041 shares of the company’s stock worth $12,231,000 after acquiring an additional 18,602 shares during the period. LSV Asset Management lifted its holdings in Covenant Logistics Group by 3.5% during the first quarter. LSV Asset Management now owns 408,200 shares of the company’s stock worth $8,789,000 after acquiring an additional 13,800 shares during the period. State Street Corp lifted its holdings in Covenant Logistics Group by 0.9% during the second quarter. State Street Corp now owns 344,197 shares of the company’s stock worth $8,636,000 after acquiring an additional 3,107 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Covenant Logistics Group by 1.3% during the second quarter. AQR Capital Management LLC now owns 131,541 shares of the company’s stock worth $3,300,000 after acquiring an additional 1,734 shares during the period. Institutional investors own 85.68% of the company’s stock.

Covenant Logistics Group Company Profile

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Covenant Logistics Group, Inc is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Highway Services and Dedicated Contract Services. The Highway Services Segment includes two separate service offerings: Expedited Services (“”Expedited””) and Over-the-Road Services (“”OTR””), both of which transport one-way freight over non-routine routes.