CovenantLogisticsGroupInc . (NASDAQ:CVLG) Rating Increased to Buy at Zacks Investment Research

CovenantLogisticsGroupInc . (NASDAQ:CVLG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $19.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.98% from the company’s current price.

According to Zacks, “Covenant Logistics Group Inc. offers a portfolio of transportation and logistics services, through its subsidiaries. The company services include asset-based expedited, dedicated and irregular route truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Covenant Logistics Group Inc., formerly known as Covenant Transportation Group Inc., is based in Chattanooga, Tennessee. “

Separately, Stephens raised their target price on shares of CovenantLogisticsGroupInc . from $19.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th.

Shares of CovenantLogisticsGroupInc . stock opened at $16.67 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.89. CovenantLogisticsGroupInc . has a 52-week low of $6.54 and a 52-week high of $20.70. The company has a market capitalization of $285.62 million, a PE ratio of -10.82 and a beta of 1.62.

CovenantLogisticsGroupInc . (NASDAQ:CVLG) last issued its earnings results on Monday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. CovenantLogisticsGroupInc . had a negative net margin of 3.09% and a negative return on equity of 0.26%. As a group, analysts predict that CovenantLogisticsGroupInc . will post 0.49 EPS for the current year.

CovenantLogisticsGroupInc . Company Profile

Covenant Logistics Group, Inc is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Highway Services and Dedicated Contract Services. The Highway Services Segment includes two separate service offerings: Expedited Services (“”Expedited””) and Over-the-Road Services (“”OTR””), both of which transport one-way freight over nonroutine routes.

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