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Covenant Logistics (CVLG) Beats Stock Market Upswing: What Investors Need to Know
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Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $45.90, moving +0.95% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 1.22%, while the tech-heavy Nasdaq appreciated by 0.51%.
The truckload transportation services provider's stock has dropped by 10.77% in the past month, falling short of the Transportation sector's gain of 0.08% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Covenant Logistics in its upcoming earnings disclosure. On that day, Covenant Logistics is projected to report earnings of $0.87 per share, which would represent a year-over-year decline of 6.45%.
It's also important for investors to be aware of any recent modifications to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.58% lower within the past month. Covenant Logistics presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.57. This signifies a discount in comparison to the average Forward P/E of 27.08 for its industry.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 211, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Covenant Logistics (CVLG) Beats Stock Market Upswing: What Investors Need to Know
Covenant Logistics (CVLG - Free Report) closed the most recent trading day at $45.90, moving +0.95% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 1.22%, while the tech-heavy Nasdaq appreciated by 0.51%.
The truckload transportation services provider's stock has dropped by 10.77% in the past month, falling short of the Transportation sector's gain of 0.08% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Covenant Logistics in its upcoming earnings disclosure. On that day, Covenant Logistics is projected to report earnings of $0.87 per share, which would represent a year-over-year decline of 6.45%.
It's also important for investors to be aware of any recent modifications to analyst estimates for Covenant Logistics. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.58% lower within the past month. Covenant Logistics presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Covenant Logistics is currently being traded at a Forward P/E ratio of 10.57. This signifies a discount in comparison to the average Forward P/E of 27.08 for its industry.
The Transportation - Truck industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 211, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.