Covenant Logistics Group (NASDAQ:CVLG) PT Lowered to $69.00 at TD Cowen

Covenant Logistics Group (NASDAQ:CVLG) had its price target decreased by TD Cowen from $70.00 to $69.00 in a report issued on Friday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Covenant Logistics Group Stock Down 0.9 %

Covenant Logistics Group stock opened at $50.90 on Friday. The stock’s fifty day moving average is $52.30 and its two-hundred day moving average is $49.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.08 and a quick ratio of 1.05. Covenant Logistics Group has a 1-year low of $38.25 and a 1-year high of $56.96. The stock has a market cap of $665.36 million, a PE ratio of 16.31 and a beta of 1.34.

Covenant Logistics Group (NASDAQ:CVLG) last posted its earnings results on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.78% and a net margin of 3.76%. The business had revenue of $287.89 million for the quarter. During the same quarter last year, the firm posted $1.13 EPS. On average, sell-side analysts expect that Covenant Logistics Group will post 4.07 EPS for the current fiscal year.

Covenant Logistics Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio is currently 14.10%.

Hedge Funds Weigh In On Covenant Logistics Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundry Partners LLC boosted its holdings in Covenant Logistics Group by 125.9% in the 2nd quarter. Foundry Partners LLC now owns 184,844 shares of the company’s stock valued at $9,111,000 after purchasing an additional 103,014 shares in the last quarter. American Century Companies Inc. boosted its holdings in Covenant Logistics Group by 29.4% in the 2nd quarter. American Century Companies Inc. now owns 114,117 shares of the company’s stock valued at $5,625,000 after purchasing an additional 25,913 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Covenant Logistics Group by 252.6% in the 1st quarter. Russell Investments Group Ltd. now owns 29,041 shares of the company’s stock valued at $1,346,000 after purchasing an additional 20,805 shares in the last quarter. Boston Partners purchased a new stake in Covenant Logistics Group in the 1st quarter valued at approximately $894,000. Finally, Oliver Luxxe Assets LLC boosted its holdings in Covenant Logistics Group by 109.7% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 34,734 shares of the company’s stock valued at $1,835,000 after purchasing an additional 18,168 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.