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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 $45.30, moving +0.64% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the truckload transportation services provider had gained 4.33% over the past month. This has lagged the Transportation sector's gain of 8.36% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of Covenant Logistics in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.05, showcasing a 23.36% downward movement from the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. Currently, Covenant Logistics is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Covenant Logistics is currently exchanging hands at a Forward P/E ratio of 10.82. This indicates a discount in contrast to its industry's Forward P/E of 26.82.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 244, positioning it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Beats Stock Market Upswing: What Investors Need to Know
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $45.30, moving +0.64% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the truckload transportation services provider had gained 4.33% over the past month. This has lagged the Transportation sector's gain of 8.36% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of Covenant Logistics in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.05, showcasing a 23.36% downward movement from the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. Currently, Covenant Logistics is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Covenant Logistics is currently exchanging hands at a Forward P/E ratio of 10.82. This indicates a discount in contrast to its industry's Forward P/E of 26.82.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 244, positioning it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.