Cowen & Co. Sticks to Its Buy Rating for Covenant Logistics Group (CVLG)

By Carrie Williams

Cowen & Co. analyst Jason Seidl reiterated a Buy rating on Covenant Logistics Group (CVLGResearch Report) on November 13 and set a price target of $25.00. The company’s shares closed last Thursday at $17.46.

According to TipRanks.com, Seidl is a top 100 analyst with an average return of 20.3% and a 75.4% success rate. Seidl covers the Industrial Goods sector, focusing on stocks such as Expeditors International, Echo Global Logistics, and Old Dominion Freight.

Covenant Logistics Group has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.

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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 $211 million and net profit of $7.5 million. In comparison, last year the company earned revenue of $220 million and had a GAAP net loss of $3.19 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVLG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.