Covenant Logistics Group (NASDAQ:CVLG) PT Lowered to $69.00

Covenant Logistics Group (NASDAQ:CVLG) had its price objective cut by TD Cowen from $70.00 to $69.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Covenant Logistics Group Stock Up 1.7 %

CVLG stock opened at $51.75 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $676.48 million, a PE ratio of 16.59 and a beta of 1.34. Covenant Logistics Group has a 1-year low of $38.25 and a 1-year high of $56.96. The business’s 50 day simple moving average is $52.29 and its 200 day simple moving average is $49.78.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $287.89 million during the quarter. Covenant Logistics Group had a return on equity of 13.78% and a net margin of 3.76%. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, research analysts anticipate that Covenant Logistics Group will post 4.07 EPS for the current year.

Covenant Logistics Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.11 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.44 annualized dividend and a yield of 0.85%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Institutional Trading of Covenant Logistics Group

Several institutional investors have recently added to or reduced their stakes in the company. EMC Capital Management boosted its stake in Covenant Logistics Group by 374.9% in the 3rd quarter. EMC Capital Management now owns 15,312 shares of the company’s stock valued at $809,000 after purchasing an additional 12,088 shares during the period. Stephens Inc. AR bought a new stake in Covenant Logistics Group in the 3rd quarter valued at $468,000. nVerses Capital LLC lifted its position in shares of Covenant Logistics Group by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $69,000 after acquiring an additional 1,100 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Covenant Logistics Group by 109.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 34,734 shares of the company’s stock valued at $1,835,000 after acquiring an additional 18,168 shares during the period. Finally, Shaker Investments LLC OH bought a new stake in shares of Covenant Logistics Group during the 3rd quarter valued at $541,000. 83.72% of the stock is currently 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.