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Covenant Logistics (CVLG) Advances While Market Declines: Some Information for Investors
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Covenant Logistics (CVLG - Free Report) ended the recent trading session at $44.68, demonstrating a +1.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.47% for the day. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
Coming into today, shares of the truckload transportation services provider had gained 2.92% in the past month. In that same time, the Transportation sector gained 9.36%, while the S&P 500 gained 5.77%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company is predicted to post an EPS of $1.07, indicating a 21.9% decline compared to the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 10.56. This valuation marks a discount compared to its industry's average Forward P/E of 26.4.
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 individual 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.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.
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Covenant Logistics (CVLG) Advances While Market Declines: Some Information for Investors
Covenant Logistics (CVLG - Free Report) ended the recent trading session at $44.68, demonstrating a +1.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.47% for the day. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
Coming into today, shares of the truckload transportation services provider had gained 2.92% in the past month. In that same time, the Transportation sector gained 9.36%, while the S&P 500 gained 5.77%.
The upcoming earnings release of Covenant Logistics will be of great interest to investors. The company is predicted to post an EPS of $1.07, indicating a 21.9% decline compared to the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Covenant Logistics. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Covenant Logistics is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Covenant Logistics is currently trading at a Forward P/E ratio of 10.56. This valuation marks a discount compared to its industry's average Forward P/E of 26.4.
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 individual 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.
To follow CVLG in the coming trading sessions, be sure to utilize Zacks.com.