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Covenant Logistics (CVLG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $49.17, marking a -1.66% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.11%.
Heading into today, shares of the truckload transportation services provider had lost 9.8% over the past month, lagging the Transportation sector's loss of 4.88% and the S&P 500's loss of 1.25% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.16, down 23.68% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 11.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 24.62.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Covenant Logistics (CVLG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $49.17, marking a -1.66% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.11%.
Heading into today, shares of the truckload transportation services provider had lost 9.8% over the past month, lagging the Transportation sector's loss of 4.88% and the S&P 500's loss of 1.25% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. The company is expected to report EPS of $1.16, down 23.68% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 11.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 24.62.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.