Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Covenant Logistics Group (CVLG - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Covenant Logistics Group is one of 136 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CVLG is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CVLG's full-year earnings has moved 32.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CVLG has returned 54.56% so far this year. At the same time, Transportation stocks have gained an average of 7.79%. This means that Covenant Logistics Group is outperforming the sector as a whole this year.
Looking more specifically, CVLG belongs to the Transportation - Truck industry, which includes 12 individual stocks and currently sits at #47 in the Zacks Industry Rank. On average, stocks in this group have gained 32.47% this year, meaning that CVLG is performing better in terms of year-to-date returns.
CVLG will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Covenant Logistics Group (CVLG - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Covenant Logistics Group is one of 136 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CVLG is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CVLG's full-year earnings has moved 32.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CVLG has returned 54.56% so far this year. At the same time, Transportation stocks have gained an average of 7.79%. This means that Covenant Logistics Group is outperforming the sector as a whole this year.
Looking more specifically, CVLG belongs to the Transportation - Truck industry, which includes 12 individual stocks and currently sits at #47 in the Zacks Industry Rank. On average, stocks in this group have gained 32.47% this year, meaning that CVLG is performing better in terms of year-to-date returns.
CVLG will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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