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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
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Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $44.78, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Coming into today, shares of the truckload transportation services provider had lost 9.95% in the past month. In that same time, the Transportation sector lost 2.91%, while the S&P 500 gained 0.38%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. The company is expected to report EPS of $1.16, down 23.68% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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.
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 10.43. Its industry sports an average Forward P/E of 24.36, 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 245, which puts it in the bottom 3% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $44.78, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Coming into today, shares of the truckload transportation services provider had lost 9.95% in the past month. In that same time, the Transportation sector lost 2.91%, while the S&P 500 gained 0.38%.
Wall Street will be looking for positivity from Covenant Logistics as it approaches its next earnings report date. The company is expected to report EPS of $1.16, down 23.68% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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.
Investors should also note Covenant Logistics's current valuation metrics, including its Forward P/E ratio of 10.43. Its industry sports an average Forward P/E of 24.36, 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 245, which puts it in the bottom 3% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.