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Covenant Logistics (CVLG) Beats Stock Market Upswing: What Investors Need to Know
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Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $42.74, moving +1.23% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.37%.
Shares of the truckload transportation services provider have appreciated by 6.05% over the course of the past month, underperforming the Transportation sector's gain of 7.59% and outperforming the S&P 500's gain of 4.39%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. On that day, Covenant Logistics is projected to report earnings of $1.07 per share, which would represent a year-over-year decline of 21.9%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Covenant Logistics holds a Zacks Rank of #4 (Sell).
In terms of valuation, Covenant Logistics is presently being traded at a Forward P/E ratio of 10.11. For comparison, its industry has an average Forward P/E of 24.21, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 239, this industry ranks in the bottom 6% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Covenant Logistics (CVLG) Beats Stock Market Upswing: What Investors Need to Know
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $42.74, moving +1.23% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.37%.
Shares of the truckload transportation services provider have appreciated by 6.05% over the course of the past month, underperforming the Transportation sector's gain of 7.59% and outperforming the S&P 500's gain of 4.39%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. On that day, Covenant Logistics is projected to report earnings of $1.07 per share, which would represent a year-over-year decline of 21.9%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Covenant Logistics holds a Zacks Rank of #4 (Sell).
In terms of valuation, Covenant Logistics is presently being traded at a Forward P/E ratio of 10.11. For comparison, its industry has an average Forward P/E of 24.21, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 239, this industry ranks in the bottom 6% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.