Key Points
- Director Joey Hogan sold 12,800 shares of Covenant Logistics Group at an average price of $39.18, totaling about $501,504. After the sale, he still owned 91,294 shares.
- The company recently missed earnings expectations, reporting $0.26 per share versus the $0.35 consensus on revenue of $307.16 million in its latest quarterly update.
- Wall Street sentiment is mixed but cautious, with analysts assigning an average Hold rating and a $35 price target, while the stock was trading near its 52-week high around $39.70.
Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) EVP Joey Ballard sold 3,718 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $38.00, for a total value of $141,284.00. Following the transaction, the executive vice president directly owned 17,149 shares in the company, valued at approximately $651,662. This represents a 17.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Joey Ballard also recently made the following trade(s):
- On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The stock was sold at an average price of $37.40, for a total value of $160,146.80.
Covenant Logistics Group Stock Up 2.2%
NYSE:CVLG opened at $39.70 on Thursday. The stock's fifty day moving average price is $31.05 and its two-hundred day moving average price is $26.77. Covenant Logistics Group, Inc. has a 52-week low of $18.00 and a 52-week high of $39.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market cap of $999.25 million, a price-to-earnings ratio of 264.67 and a beta of 1.28.
Covenant Logistics Group (NYSE:CVLG - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). The firm had revenue of $307.16 million for the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. On average, analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.
Institutional Trading of Covenant Logistics Group
A number of large investors have recently made changes to their positions in CVLG. T. Rowe Price Investment Management Inc. increased its position in shares of Covenant Logistics Group by 46.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company's stock valued at $15,748,000 after buying an additional 227,216 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company's stock valued at $3,981,000 after buying an additional 110,810 shares in the last quarter. Algert Global LLC increased its position in shares of Covenant Logistics Group by 655.0% in the 3rd quarter. Algert Global LLC now owns 110,144 shares of the company's stock valued at $2,386,000 after buying an additional 95,556 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Covenant Logistics Group by 19.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company's stock valued at $7,863,000 after buying an additional 58,577 shares in the last quarter. Finally, Polaris Capital Management LLC increased its position in shares of Covenant Logistics Group by 1,061.0% in the 4th quarter. Polaris Capital Management LLC now owns 56,682 shares of the company's stock valued at $1,249,000 after buying an additional 51,800 shares in the last quarter. Institutional investors own 83.72% of the company's stock.
Wall Street Analyst Weigh In
CVLG has been the subject of several recent research reports. TD Cowen upped their target price on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Wall Street Zen cut shares of Covenant Logistics Group from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Zacks Research upgraded shares of Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Covenant Logistics Group currently has a consensus rating of "Hold" and an average target price of $35.00.
Read Our Latest Analysis on CVLG
About Covenant Logistics Group
(
Get Free Report)
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.
Further Reading
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