Covenant Logistics Group (NASDAQ:CVLG) released its quarterly earnings data on Tuesday. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.28, MarketWatch Earnings reports. Covenant Logistics Group had a positive return on equity of 9.96% and a negative net margin of 3.46%.
Covenant Logistics Group stock traded up $0.86 during mid-day trading on Thursday, hitting $20.27. 3,540 shares of the company were exchanged, compared to its average volume of 71,568. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a 50 day moving average price of $21.32. The firm has a market cap of $339.52 million, a P/E ratio of -11.71 and a beta of 1.80. Covenant Logistics Group has a 12-month low of $13.23 and a 12-month high of $23.97.
Several equities analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Covenant Logistics Group in a research note on Monday, June 21st. They issued a “hold” rating for the company. Zacks Investment Research downgraded Covenant Logistics Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 1st. Finally, Cowen raised their price objective on Covenant Logistics Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average 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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