Covenant Logistics Group (NASDAQ:CVLG) posted its earnings results on Tuesday. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.28, MarketWatch Earnings reports. Covenant Logistics Group had a negative net margin of 3.46% and a positive return on equity of 9.96%.
Covenant Logistics Group stock traded up $0.56 during midday trading on Thursday, hitting $19.97. The company’s stock had a trading volume of 683 shares, compared to its average volume of 71,568. Covenant Logistics Group has a 1-year low of $13.23 and a 1-year high of $23.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.16. The company has a 50-day simple moving average of $21.32. The company has a market capitalization of $334.50 million, a P/E ratio of -11.61 and a beta of 1.80.
CVLG has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on shares of Covenant Logistics Group in a research note on Monday, June 21st. They set a “hold” rating for the company. Cowen raised their target price on shares of Covenant Logistics Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Finally, Zacks Investment Research cut shares of Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Covenant Logistics Group currently has an average rating of “Hold” and an average target price of $29.67.
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 to customers with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.
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