Covenant Logistics Group (CVLG) Stock Price, News & Analysis

Company Overview

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. Its Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length using equipment either owned or leased by the company. The Managed Freight segment offers brokerage services, including logistics capacity by outsourcing the carriage of customers' freight to third parties; and transport management services, such as logistics services on a contractual basis to customers who prefer to outsource their logistics needs. Its Warehousing segment provides day-to-day warehouse management services to customers, as well as shuttle and switching services related to shuttling containers and trailers. The company also engages in used equipment sales and leasing business. It serves transportation companies, such as parcel freight forwarders, less-than-truckload carriers, and third-party logistics providers; and traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. The company was formerly known as Covenant Transportation Group, Inc. and changed its name to Covenant Logistics Group, Inc. in July 2020. Covenant Logistics Group, Inc. was founded in 1986 and is based in Chattanooga, Tennessee.

Key Stats

• Today's Range: $56.78 to $57.88
• 50-Day Range: $49.90 to $60.66
• 52-Week Range: $41.38 to $61.54
• Volume: 33,625 shs
• Average Volume: 61,685 shs
• Market Capitalization: $761.01 million
• P/E Ratio: 18.99
• Dividend Yield: 0.76%
• Price Target: $69.50
• Consensus Rating: Buy

Covenant Logistics Group Stock Analysis - MarketRank™

Covenant Logistics Group scored higher than 85% of companies evaluated by MarketBeat, and ranked 28th out of 126 stocks in the transportation sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.5 / 5
• Analyst Rating: Buy

Consensus Rating

Covenant Logistics Group has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Covenant Logistics Group has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 24.75%

Earnings Growth

Earnings for Covenant Logistics Group are expected to grow by 24.75% in the coming year, from $4.00 to $4.99 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Covenant Logistics Group is 18.99, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.22.

Price to Earnings Ratio vs. Sector

The P/E ratio of Covenant Logistics Group is 18.99, which means that it is trading at a more expensive P/E ratio than the Transportation sector average P/E ratio of about 17.81.

Price to Book Value per Share Ratio

Covenant Logistics Group has a P/B Ratio of 1.76. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.10% of the float of Covenant Logistics Group has been sold short.

Short Interest Ratio / Days to Cover

Covenant Logistics Group has a short interest ratio ("days to cover") of 1.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Covenant Logistics Group has recently decreased by 7.97%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

Covenant Logistics Group has a dividend yield of 0.77%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

Covenant Logistics Group does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Covenant Logistics Group is 14.47%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Covenant Logistics Group will have a dividend payout ratio of 8.82% next year. This indicates that Covenant Logistics Group will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.10% of the float of Covenant Logistics Group has been sold short.

Short Interest Ratio / Days to Cover

Covenant Logistics Group has a short interest ratio ("days to cover") of 1.6, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Covenant Logistics Group has recently decreased by 7.97%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.1 / 5
• News Sentiment: 0.85

News Sentiment

Covenant Logistics Group has a news sentiment score of 0.85. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Transportation companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Covenant Logistics Group this week, compared to 2 articles on an average week.

Company Ownership

• Score: 4.2 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Covenant Logistics Group insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $417,480.00 in company stock.

Percentage Held by Insiders

36.50% of the stock of Covenant Logistics Group is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

83.72% of the stock of Covenant Logistics Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CVLG Stock Analysis - Frequently Asked Questions

How have CVLG shares performed this year?

Covenant Logistics Group's stock was trading at $46.04 at the start of the year. Since then, CVLG shares have increased by 25.4% and is now trading at $57.74.
View the best growth stocks for 2024 here.

How were Covenant Logistics Group's earnings last quarter?

Covenant Logistics Group, Inc. (NASDAQ:CVLG) released 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 earned $287.89 million during the quarter. Covenant Logistics Group had a net margin of 3.72% and a trailing twelve-month return on equity of 13.43%.

Does Covenant Logistics Group have any subsidiaries?

Covenant Logistics Group subsidiaries include Landair, Covenant Asset Management LLC a Nevada limited liability company, Covenant Logistics Inc a Nevada corporation, Covenant Transport Inc a Tennessee corporation dba Covenant Transport Services and Covenant Logistics, Covenant Transport Solutions LLC a Nevada limited liability company, CTG Leasing Company a Nevada corporation, Heritage Insurance Inc a Tennessee corporation, and more.

Who are Covenant Logistics Group's major shareholders?

Top institutional investors of Covenant Logistics Group include State Street Corp (1.58%), Foundry Partners LLC (1.49%), Geode Capital Management LLC (1.39%) and Charles Schwab Investment Management Inc. (0.83%). Insiders that own company stock include David Ray Parker, Joey B Hogan, Robert E Bosworth, Bradley A Moline, Samuel F Hough, Herbert J Schmidt, D Michael Kramer and Matisse Long.
View institutional ownership trends.

How do I buy shares of Covenant Logistics Group?

Shares of CVLG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Covenant Logistics Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Covenant Logistics Group investors own include NVIDIA (NVDA), Tesla (TSLA), Home Depot (HD), Advanced Micro Devices (AMD), Meta Platforms (META), Cisco Systems (CSCO) and Netflix (NFLX).

Company Calendar

• Ex-Dividend for 9/27 Dividend: 9/06/2024
• Dividend Payable: 9/27/2024
• Last Earnings: 10/23/2024
• Today: 11/22/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/28/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Transportation
• Industry: Trucking, except local
• Sub-Industry: Transportation
• Current Symbol: NASDAQ:CVLG
• CUSIP: N/A
• CIK: 928658
• Web: www.covenanttransport.com
• Phone: (423) 821-1212
• Fax: 423-821-5442
• Employees: 4,600
• Year Founded: 1986

Price Target and Rating

• Average Stock Price Target: $69.50
• High Stock Price Target: $70.00
• Low Stock Price Target: $69.00
• Potential Upside/Downside: +20.4%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $3.04
• Trailing P/E Ratio: 18.99
• Forward P/E Ratio: 14.44
• P/E Growth: N/A
• Net Income: $55.23 million
• Net Margins: 3.72%
• Pretax Margin: 4.80%
• Return on Equity: 13.43%
• Return on Assets: 5.72%

Debt

• Debt-to-Equity Ratio: 0.46
• Current Ratio: 1.10
• Quick Ratio: 1.07

Sales & Book Value

• Annual Sales: $1.10 billion
• Price / Sales: 0.69
• Cash Flow: $9.82 per share
• Price / Cash Flow: 5.88
• Book Value: $32.74 per share
• Price / Book: 1.76

Miscellaneous

• Outstanding Shares: 13,180,000
• Free Float: 8,369,000
• Market Cap: $761.01 million
• Optionable: Optionable
• Beta: 1.35