Covenant Logistics Group, Inc. (NYSE:CVLG) Stock Has Consensus Target Price of $51.80

Shares of Covenant Logistics Group, Inc. (NYSE:CVLG) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.80.

Several brokerages recently commented on CVLG. Robert W. Baird set a $50.00 price target on Covenant Logistics Group and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Stephens set a $54.00 price target on Covenant Logistics Group and gave the stock an “overweight” rating in a research report on Friday, July 31st. Zacks Research cut Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. National Bank Financial set a $60.00 price objective on Covenant Logistics Group in a report on Wednesday, July 15th. Finally, Citigroup initiated coverage on shares of Covenant Logistics Group in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company.

Covenant Logistics Group Trading Up 0.1%

Shares of NYSE:CVLG opened at $33.80 on Monday. The company’s 50-day moving average price is $35.09 and its two-hundred day moving average price is $36.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.10. Covenant Logistics Group has a one year low of $18.00 and a one year high of $49.88. The stock has a market capitalization of $857.84 million, a PE ratio of 307.30 and a beta of 1.39.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. The company had revenue of $332.87 million during the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.14%. On average, equities analysts forecast that Covenant Logistics Group will post 1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MCF Advisors LLC raised its holdings in shares of Covenant Logistics Group by 96.4% in the 2nd quarter. MCF Advisors LLC now owns 754 shares of the company’s stock valued at $33,000 after purchasing an additional 370 shares during the period. 1492 Capital Management LLC bought a new position in Covenant Logistics Group during the first quarter worth about $241,000. Janus Henderson Group PLC bought a new position in Covenant Logistics Group during the first quarter worth about $245,000. DGS Capital Management LLC increased its position in Covenant Logistics Group by 8.1% during the first quarter. DGS Capital Management LLC now owns 14,613 shares of the company’s stock worth $397,000 after buying an additional 1,092 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Covenant Logistics Group during the second quarter worth approximately $631,000. Institutional investors own 83.72% of the company’s stock.

About Covenant Logistics Group

Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986 as Covenant Transport, the company provides freight transportation and supply chain services to customers across North America.

Its operations include asset-based truckload transportation, dedicated transportation, expedited freight, refrigerated and dry-van services, brokerage, freight management, warehousing and distribution. Through these offerings, Covenant Logistics helps businesses move and manage goods while providing related supply chain and logistics support.

The company serves a range of industries and customer needs through a combination of company-owned equipment, contracted capacity and logistics services.