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) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Covenant Logistics (CVLG - Free Report) closed at $45.08 in the latest trading session, marking a -1.85% move from the prior day. This move lagged the S&P 500's daily loss of 0.57%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Heading into today, shares of the truckload transportation services provider had lost 13.89% over the past month, lagging the Transportation sector's loss of 5.36% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. On that day, Covenant Logistics is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 23.68%.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 10.62. Its industry sports an average Forward P/E of 23.71, 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 group has a Zacks Industry Rank of 242, putting it in the bottom 4% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Covenant Logistics (CVLG) Dips More Than Broader Markets: What You Should Know
Covenant Logistics (CVLG - Free Report) closed at $45.08 in the latest trading session, marking a -1.85% move from the prior day. This move lagged the S&P 500's daily loss of 0.57%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Heading into today, shares of the truckload transportation services provider had lost 13.89% over the past month, lagging the Transportation sector's loss of 5.36% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. On that day, Covenant Logistics is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 23.68%.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Covenant Logistics is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 10.62. Its industry sports an average Forward P/E of 23.71, 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 group has a Zacks Industry Rank of 242, putting it in the bottom 4% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.