Cowen & Co. analyst Jason Seidl downgraded Covenant Logistics Group (CVLG – Research Report) to a Hold today and set a price target of $35.00. The company’s shares closed today at $30.01.
According to TipRanks, Seidl is a top 25 analyst with an average return of 25.7% and a 75.35% success rate. Seidl covers the Industrial Goods sector, focusing on stocks such as TFI International, GXO Logistics, and CH Robinson.
Covenant Logistics Group has an analyst consensus of Hold, with a price target consensus of $35.00.
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Based on Covenant Logistics Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $311.84 million and a net profit of $50.49 million. In comparison, last year the company earned a revenue of $274.56 million and had a net profit of $16.44 million
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVLG in relation to earlier this year.
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Covenant Transportation Group, Inc. is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Truckload and Managed Freight segments. The Truckload segment consists of four service offerings: Expedited; Dedicated; Temperature-Controlled; and OTR. The Managed Freight segment is comprised primarily of freight brokerage, transportation management services (TMS), and shuttle and switching services. The company was founded by David Ray Parker in 1985 and is headquartered in Chattanooga, TN.
Read More on CVLG:
- Covenant Logistics Group Announces Fourth Quarter Financial and Operating Results
- Covenant Logistics upgraded to Peer Perform at Wolfe Research
- Covenant Logistics upgraded to Peer Perform from Underperform at Wolfe Research
- Covenant Logistics Group, Inc. Announces Timing of Fourth Quarter Earnings Release and Conference Call
