Covenant Logistics Group (NASDAQ:CVLG - Free Report) had its target price reduced by TD Cowen from $70.00 to $69.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.
Covenant Logistics Group Price Performance
Shares of CVLG traded down $0.38 during trading hours on Friday, hitting $50.98. 65,870 shares of the company were exchanged, compared to its average volume of 61,205. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.08 and a quick ratio of 1.05. The company has a market capitalization of $666.41 million, a PE ratio of 16.54 and a beta of 1.34. The firm has a fifty day simple moving average of $52.33 and a 200-day simple moving average of $49.66. Covenant Logistics Group has a one year low of $38.25 and a one year high of $56.96.
Covenant Logistics Group (NASDAQ:CVLG - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates 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 business earned $1.13 EPS. As a group, sell-side analysts predict that Covenant Logistics Group will post 4.07 earnings per share for the current year.
Covenant Logistics Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.86%. Covenant Logistics Group's dividend payout ratio is currently 14.10%.
Insider Activity at Covenant Logistics Group
In other Covenant Logistics Group 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 transaction of $1,160,040.00. Following the transaction, the director now directly owns 12,134 shares in the company, valued at approximately $670,282.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 36.50% of the stock is owned by insiders.
Institutional Investors Weigh In On Covenant Logistics Group
A number of institutional investors have recently bought and sold shares of CVLG. CWM LLC lifted its position in shares of Covenant Logistics Group by 2,336.4% in the second quarter. CWM LLC now owns 536 shares of the company's stock worth $26,000 after purchasing an additional 514 shares in the last quarter. Innealta Capital LLC acquired a new position in Covenant Logistics Group in the 2nd quarter valued at approximately $27,000. nVerses Capital LLC lifted its position in Covenant Logistics Group by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company's stock worth $69,000 after buying an additional 1,100 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Covenant Logistics Group by 172.1% during the 2nd quarter. Quest Partners LLC now owns 1,978 shares of the company's stock valued at $97,000 after buying an additional 1,251 shares during the period. Finally, EMC Capital Management purchased a new position in shares of Covenant Logistics Group during the 1st quarter valued at $149,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.
About Covenant Logistics Group
(
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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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