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Covenant Logistics (CVLG) Stock Moves -0.56%: What You Should Know
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In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $46.25, marking a -0.56% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
The truckload transportation services provider's stock has dropped by 5.98% in the past month, falling short of the Transportation sector's gain of 3.22% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Covenant Logistics in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.87, marking a 6.45% fall compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Covenant Logistics presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Covenant Logistics is holding a Forward P/E ratio of 10.75. This signifies a discount in comparison to the average Forward P/E of 21.72 for its industry.
The Transportation - Truck industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 -0.56%: What You Should Know
In the latest trading session, Covenant Logistics (CVLG - Free Report) closed at $46.25, marking a -0.56% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
The truckload transportation services provider's stock has dropped by 5.98% in the past month, falling short of the Transportation sector's gain of 3.22% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Covenant Logistics in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.87, marking a 6.45% fall compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Covenant Logistics presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Covenant Logistics is holding a Forward P/E ratio of 10.75. This signifies a discount in comparison to the average Forward P/E of 21.72 for its industry.
The Transportation - Truck industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.