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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
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The latest trading session saw Covenant Logistics (CVLG - Free Report) ending at $42.57, denoting a -0.02% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 1.47%, and the Nasdaq, a tech-heavy index, lost 0.23%.
The the stock of truckload transportation services provider has risen by 8.82% in the past month, lagging the Transportation sector's gain of 10.56% and the S&P 500's gain of 10.72%.
Market participants will be closely following the financial results of Covenant Logistics in its upcoming release. The company is forecasted to report an EPS of $1.07, showcasing a 21.9% downward movement from the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 1.07% lower. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Covenant Logistics is at present trading with a Forward P/E ratio of 10.2. This represents a discount compared to its industry's average Forward P/E of 23.06.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 235, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw Covenant Logistics (CVLG - Free Report) ending at $42.57, denoting a -0.02% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 1.47%, and the Nasdaq, a tech-heavy index, lost 0.23%.
The the stock of truckload transportation services provider has risen by 8.82% in the past month, lagging the Transportation sector's gain of 10.56% and the S&P 500's gain of 10.72%.
Market participants will be closely following the financial results of Covenant Logistics in its upcoming release. The company is forecasted to report an EPS of $1.07, showcasing a 21.9% downward movement from the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Covenant Logistics. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 1.07% lower. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Covenant Logistics is at present trading with a Forward P/E ratio of 10.2. This represents a discount compared to its industry's average Forward P/E of 23.06.
The Transportation - Truck industry is part of the Transportation sector. With its current Zacks Industry Rank of 235, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.