We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $28.55, marking a +1.53% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the truckload transportation services provider had lost 14.24% in the past month. In that same time, the Transportation sector lost 2.88%, while the S&P 500 lost 4.13%.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.37, up 34.31% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $296 million, up 7.81% from the year-ago period.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $5.43 per share and revenue of $1.2 billion. These results would represent year-over-year changes of +50.42% and +14.71%, respectively.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Covenant Logistics is holding a Forward P/E ratio of 5.18. For comparison, its industry has an average Forward P/E of 10.09, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $28.55, marking a +1.53% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the truckload transportation services provider had lost 14.24% in the past month. In that same time, the Transportation sector lost 2.88%, while the S&P 500 lost 4.13%.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.37, up 34.31% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $296 million, up 7.81% from the year-ago period.
CVLG's full-year Zacks Consensus Estimates are calling for earnings of $5.43 per share and revenue of $1.2 billion. These results would represent year-over-year changes of +50.42% and +14.71%, respectively.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Covenant Logistics is holding a Forward P/E ratio of 5.18. For comparison, its industry has an average Forward P/E of 10.09, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.