Covenant Logistics Group, Inc. (NASDAQ:CVLG – Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 142,200 shares, a drop of 6.8% from the October 15th total of 152,500 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 56,400 shares, the days-to-cover ratio is presently 2.5 days.
Analyst Upgrades and Downgrades
Separately, Stephens increased their price objective on shares of Covenant Logistics Group from $63.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th.
Institutional Inflows and Outflows
Covenant Logistics Group Trading Up 0.2 %
Shares of CVLG traded up $0.07 during midday trading on Friday, hitting $41.24. The stock had a trading volume of 59,553 shares, compared to its average volume of 77,154. Covenant Logistics Group has a 1 year low of $29.34 and a 1 year high of $57.57. The firm has a market cap of $534.06 million, a PE ratio of 10.53 and a beta of 1.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.15. The stock’s 50 day moving average is $42.95 and its 200 day moving average is $44.31.
Covenant Logistics Group (NASDAQ:CVLG – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $288.72 million for the quarter. Covenant Logistics Group had a net margin of 4.77% and a return on equity of 16.35%. As a group, analysts forecast that Covenant Logistics Group will post 4.18 EPS for the current fiscal year.
Covenant Logistics Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, August 31st. Covenant Logistics Group’s dividend payout ratio (DPR) is 11.25%.
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.
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