Covenant Logistics Group (NYSE:CVLG) Reaches New 12-Month High – Still a Buy?

Covenant Logistics Group, Inc. (NYSE:CVLG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $27.81 and last traded at $27.74, with a volume of 190917 shares. The stock had previously closed at $27.09.

Analyst Ratings Changes

A number of research firms recently weighed in on CVLG. Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Covenant Logistics Group presently has an average rating of “Hold” and a consensus target price of $30.00.

Covenant Logistics Group Stock Performance

The company has a market capitalization of $694.89 million, a price-to-earnings ratio of 126.10 and a beta of 1.21. The stock’s 50-day moving average price is $23.48 and its 200-day moving average price is $22.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01.

Covenant Logistics Group (NYSE:CVLG) last posted its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $295.37 million during the quarter. Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%.

Institutional Trading of Covenant Logistics Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Wesbanco Bank Inc. acquired a new stake in shares of Covenant Logistics Group in the fourth quarter valued at approximately $474,000. Polaris Capital Management LLC increased its position in Covenant Logistics Group by 1,061.0% during the fourth quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock worth $1,249,000 after buying an additional 51,800 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Covenant Logistics Group by 2.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 80,350 shares of the company’s stock worth $1,771,000 after acquiring an additional 2,143 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after acquiring an additional 2,361 shares during the last quarter. Finally, Daytona Street Capital LLC acquired a new stake in shares of Covenant Logistics Group during the fourth quarter valued at $220,000. 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.