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

Covenant Logistics Group (NASDAQ:CVLG) had its price objective lowered by investment analysts at TD Cowen from $70.00 to $69.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 35.56% from the company’s previous close.

Covenant Logistics Group Stock Down 0.9 %

NASDAQ CVLG opened at $50.90 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 company has a market cap of $665.36 million, a price-to-earnings ratio of 16.31 and a beta of 1.34. The company has a 50 day moving average of $52.30 and a 200-day moving average of $49.71. Covenant Logistics Group has a 1-year low of $38.25 and a 1-year high of $56.96.

Covenant Logistics Group (NASDAQ:CVLG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm 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 period in the prior year, the firm earned $1.13 earnings per share. On average, equities research analysts expect that Covenant Logistics Group will post 4.07 earnings per share for the current fiscal year.

Insider Transactions at Covenant Logistics Group

In related news, Director Herbert J. Schmidt sold 21,000 shares of Covenant Logistics Group 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 transaction, the director now directly owns 12,134 shares of the company’s stock, valued at $670,282.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 36.50% of the stock is currently owned by insiders.

Institutional Trading of Covenant Logistics Group

Several large investors have recently bought and sold shares of CVLG. CWM LLC boosted its stake in shares of Covenant Logistics Group by 2,336.4% in the 2nd quarter. CWM LLC now owns 536 shares of the company’s stock valued at $26,000 after purchasing an additional 514 shares in the last quarter. Innealta Capital LLC acquired a new stake in Covenant Logistics Group in the second quarter valued at approximately $27,000. nVerses Capital LLC grew its stake in shares of Covenant Logistics Group by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after buying an additional 1,100 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Covenant Logistics Group by 172.1% during the second quarter. Quest Partners LLC now owns 1,978 shares of the company’s stock worth $97,000 after buying an additional 1,251 shares in the last quarter. Finally, EMC Capital Management bought a new position in shares of Covenant Logistics Group in the 1st quarter valued at $149,000. 83.72% of the stock is owned by institutional investors and hedge funds.

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.