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

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Covenant Logistics Group to post earnings of $0.87 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The firm had revenue of $273.99 million for the quarter. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. On average, analysts expect Covenant Logistics Group to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Covenant Logistics Group Price Performance

NASDAQ CVLG opened at $44.71 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $584.36 million, a PE ratio of 11.09 and a beta of 1.41. Covenant Logistics Group has a 12-month low of $33.58 and a 12-month high of $57.57. The company has a 50 day moving average price of $47.30 and a two-hundred day moving average price of $45.45.

Covenant Logistics Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.98%. Covenant Logistics Group’s dividend payout ratio is currently 10.92%.

Analysts Set New Price Targets

Several research firms have weighed in on CVLG. TD Cowen upgraded Covenant Logistics Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $51.00 to $66.00 in a report on Thursday, January 25th. Vertical Research assumed coverage on Covenant Logistics Group in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price objective on the stock.

Read Our Latest Analysis on CVLG

Insider Buying and Selling

In related news, CEO David Ray Parker sold 55,000 shares of Covenant Logistics Group stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.47, for a total value of $2,830,850.00. Following the transaction, the chief executive officer now owns 196,537 shares in the company, valued at approximately $10,115,759.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Covenant Logistics Group news, Director Joey B. Hogan sold 10,000 shares of Covenant Logistics Group stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $50.37, for a total value of $503,700.00. Following the transaction, the director now directly owns 92,374 shares of the company’s stock, valued at approximately $4,652,878.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Ray Parker sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.47, for a total value of $2,830,850.00. Following the transaction, the chief executive officer now owns 196,537 shares of the company’s stock, valued at $10,115,759.39. The disclosure for this sale can be found here. In the last three months, insiders sold 117,667 shares of company stock valued at $6,078,403. Company insiders own 35.30% of the company’s stock.

Institutional Investors Weigh In On Covenant Logistics Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Covenant Logistics Group by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 91,445 shares of the company’s stock valued at $1,968,000 after purchasing an additional 4,682 shares during the period. American Century Companies Inc. raised its position in shares of Covenant Logistics Group by 26.2% during the first quarter. American Century Companies Inc. now owns 45,345 shares of the company’s stock valued at $976,000 after buying an additional 9,406 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Covenant Logistics Group by 57.0% in the first quarter. MetLife Investment Management LLC now owns 6,924 shares of the company’s stock valued at $149,000 after buying an additional 2,514 shares during the period. LSV Asset Management grew its position 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 buying an additional 13,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Covenant Logistics Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,141,635 shares of the company’s stock valued at $24,580,000 after acquiring an additional 12,726 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Covenant Logistics Group

(Get Free Report)

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.

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Earnings History for Covenant Logistics Group (NASDAQ:CVLG)

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