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Covenant Logistics (CVLG) Stock Moves -0.02%: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $48.42, marking a -0.02% move from the previous day. This change was narrower than the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the truckload transportation services provider had lost 13.84% over the past month. This has lagged the Transportation sector's loss of 4.85% and the S&P 500's gain of 0.58% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. In that report, analysts expect Covenant Logistics to post earnings of $1.16 per share. This would mark a year-over-year decline of 23.68%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 #2 (Buy).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 11.2 right now. This valuation marks a discount compared to its industry's average Forward P/E of 24.24.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Covenant Logistics (CVLG) Stock Moves -0.02%: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $48.42, marking a -0.02% move from the previous day. This change was narrower than the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the truckload transportation services provider had lost 13.84% over the past month. This has lagged the Transportation sector's loss of 4.85% and the S&P 500's gain of 0.58% in that time.
Investors will be hoping for strength from Covenant Logistics as it approaches its next earnings release. In that report, analysts expect Covenant Logistics to post earnings of $1.16 per share. This would mark a year-over-year decline of 23.68%.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 #2 (Buy).
Valuation is also important, so investors should note that Covenant Logistics has a Forward P/E ratio of 11.2 right now. This valuation marks a discount compared to its industry's average Forward P/E of 24.24.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.