Covenant Logistics Group (NASDAQ:CVLG) issued its earnings results on Tuesday. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%.
Shares of CVLG stock traded up $0.52 on Thursday, hitting $19.93. 481 shares of the stock traded hands, compared to its average volume of 71,568. The stock has a market cap of $333.83 million, a price-to-earnings ratio of -11.61 and a beta of 1.80. Covenant Logistics Group has a 52 week low of $13.23 and a 52 week high of $23.97. The business has a 50 day moving average price of $21.32. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.
CVLG has been the topic of several research reports. 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 report on Wednesday, April 28th. Stifel Nicolaus initiated coverage on shares of Covenant Logistics Group in a research report on Monday, June 21st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Covenant Logistics Group has a consensus rating of “Hold” and a consensus price target 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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