TD Cowen Trims Covenant Logistics Group (NASDAQ:CVLG) Target Price to $69.00

Covenant Logistics Group (NASDAQ:CVLG) had its price objective lowered by equities research analysts at TD Cowen from $70.00 to $69.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 34.29% from the stock’s previous close.

Covenant Logistics Group Price Performance

Shares of NASDAQ CVLG traded up $0.02 during midday trading on Friday, reaching $51.38. The company’s stock had a trading volume of 42,408 shares, compared to its average volume of 61,090. The business’s 50 day moving average price is $52.33 and its two-hundred day moving average price is $49.66. Covenant Logistics Group has a fifty-two week low of $38.25 and a fifty-two week high of $56.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.08. The company has a market cap of $671.64 million, a P/E ratio of 16.54 and a beta of 1.34.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.78% and a net margin of 3.76%. The company had revenue of $287.89 million for the quarter. During the same quarter in the previous year, the business posted $1.13 EPS. On average, analysts forecast that Covenant Logistics Group will post 4.07 EPS for the current fiscal year.

Insider Transactions at Covenant Logistics Group

In other Covenant Logistics Group news, Director Herbert J. Schmidt sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $55.24, for a total value of $1,160,040.00. Following the sale, the director now owns 12,134 shares in the company, valued at $670,282.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 36.50% of the company’s stock.

Institutional Investors Weigh In On Covenant Logistics Group

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners acquired a new position in shares of Covenant Logistics Group during the first quarter worth $894,000. Foundry Partners LLC grew its position in shares of Covenant Logistics Group by 125.9% in the 2nd quarter. Foundry Partners LLC now owns 184,844 shares of the company’s stock valued at $9,111,000 after buying an additional 103,014 shares during the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Covenant Logistics Group in the second quarter valued at about $498,000. Shaker Investments LLC OH acquired a new stake in shares of Covenant Logistics Group in the third quarter valued at about $541,000. Finally, Inspire Investing LLC bought a new position in shares of Covenant Logistics Group during the third quarter worth about $409,000. 83.72% of the stock is owned by institutional investors.

Covenant Logistics Group Company Profile

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.