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Covenant Logistics (CVLG - Free Report) ended the recent trading session at $42.89, demonstrating a +0.68% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.37%. On the other hand, the Dow registered a gain of 1.4%, and the technology-centric Nasdaq increased by 1.38%.
The truckload transportation services provider's stock has climbed by 1.45% in the past month, falling short of the Transportation sector's gain of 9.01% and the S&P 500's gain of 5.37%.
Market participants will be closely following the financial results of Covenant Logistics in its upcoming release. 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%.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is currently a Zacks Rank #4 (Sell).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.2. For comparison, its industry has an average Forward P/E of 24.69, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Covenant Logistics (CVLG) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Covenant Logistics (CVLG - Free Report) ended the recent trading session at $42.89, demonstrating a +0.68% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.37%. On the other hand, the Dow registered a gain of 1.4%, and the technology-centric Nasdaq increased by 1.38%.
The truckload transportation services provider's stock has climbed by 1.45% in the past month, falling short of the Transportation sector's gain of 9.01% and the S&P 500's gain of 5.37%.
Market participants will be closely following the financial results of Covenant Logistics in its upcoming release. 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%.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Covenant Logistics is currently a Zacks Rank #4 (Sell).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.2. For comparison, its industry has an average Forward P/E of 24.69, which means Covenant Logistics is trading at a discount to the group.
The Transportation - Truck industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.