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
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $43.79, moving +1.74% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the truckload transportation services provider had lost 13.92% over the past month. This has lagged the Transportation sector's loss of 5.02% and the S&P 500's loss of 2.84% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. In that report, analysts expect Covenant Logistics to post earnings of $1.16 per share. This would mark a year-over-year decline of 23.68%.
Any recent changes to analyst estimates for Covenant Logistics should also be noted by investors. Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 9.95. For comparison, its industry has an average Forward P/E of 22.93, 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 242, which puts 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $43.79, moving +1.74% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the truckload transportation services provider had lost 13.92% over the past month. This has lagged the Transportation sector's loss of 5.02% and the S&P 500's loss of 2.84% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. In that report, analysts expect Covenant Logistics to post earnings of $1.16 per share. This would mark a year-over-year decline of 23.68%.
Any recent changes to analyst estimates for Covenant Logistics should also be noted by investors. Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 9.95. For comparison, its industry has an average Forward P/E of 22.93, 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 242, which puts 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.