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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $24.51, marking a -0.53% move from the previous day. This move lagged the S&P 500's daily gain of 0.31%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the truckload transportation services provider had lost 15.9% over the past month, lagging the Transportation sector's loss of 1.99% and the S&P 500's loss of 0.04% in that time.
Covenant Logistics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.04, up 70.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282 million, up 25.21% from the year-ago period.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $1.03 billion. These results would represent year-over-year changes of +229.63% and +22.88%, respectively.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is currently a Zacks Rank #2 (Buy).
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 6.91. Its industry sports an average Forward P/E of 16.98, so we one might conclude that Covenant Logistics is trading at a discount comparatively.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $24.51, marking a -0.53% move from the previous day. This move lagged the S&P 500's daily gain of 0.31%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.48%.
Heading into today, shares of the truckload transportation services provider had lost 15.9% over the past month, lagging the Transportation sector's loss of 1.99% and the S&P 500's loss of 0.04% in that time.
Covenant Logistics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.04, up 70.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282 million, up 25.21% from the year-ago period.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $1.03 billion. These results would represent year-over-year changes of +229.63% and +22.88%, respectively.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is currently a Zacks Rank #2 (Buy).
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 6.91. Its industry sports an average Forward P/E of 16.98, so we one might conclude that Covenant Logistics is trading at a discount comparatively.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.