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Covenant Logistics (CVLG) Stock Moves -0.5%: What You Should Know

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Covenant Logistics (CVLG - Free Report) closed at $23.75 in the latest trading session, marking a -0.5% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.23%.

Heading into today, shares of the truckload transportation services provider had lost 21.97% over the past month, lagging the Transportation sector's loss of 3.62% and the S&P 500's loss of 0.13% in that time.

Covenant Logistics will be looking to display strength as it nears its next earnings release. On that day, Covenant Logistics is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 70.49%. Meanwhile, our latest consensus estimate is calling for revenue of $282 million, up 25.21% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.56 per share and revenue of $1.03 billion, which would represent changes of +229.63% and +22.88%, respectively, from the prior year.

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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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, the Zacks Consensus EPS estimate remained stagnant. Covenant Logistics is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, Covenant Logistics is holding a Forward P/E ratio of 6.7. Its industry sports an average Forward P/E of 16.89, so we one might conclude that Covenant Logistics is trading at a discount comparatively.

The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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