Covenant Logistics Group, Inc., together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services to customers with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows. The Dedicated segment provides customers with committed truckload capacity over contracted periods using equipment either owned or leased by the company. The Managed Freight segment offers brokerage services, including logistics capacity by outsourcing the carriage of customers' freight to third parties; and transport management services, such as logistics services on a contractual basis to customers who prefer to outsource their logistics needs. The Warehousing segment provides day-to-day warehouse management services to customers. The segment also provides shuttle and switching services to shuttling containers and trailers. The company also engages in used equipment sales and leasing business. It serves transportation companies, such as parcel freight forwarders, less-than-truckload carriers, and third-party logistics providers; and traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. As of December 31, 2020, it operated 2,461 tractors and 5,647 trailers. The company was formerly known as Covenant Transportation Group, Inc. and changed its name to Covenant Logistics Group, Inc. in July 2020. Covenant Logistics Group, Inc. was founded in 1986 and is based in Chattanooga, Tennessee.
IPO Year:
Exchange: NASDAQ
Website: covenanttransport.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/25/2024 | $51.00 → $66.00 | Market Perform → Outperform | TD Cowen |
| 1/23/2024 | $70.00 | Buy | Vertical Research |
| 1/10/2023 | Underperform → Peer Perform | Wolfe Research | |
| 4/14/2022 | $40.00 → $21.00 | Outperform → Market Perform | Cowen |
| 4/1/2022 | $30.00 → $25.00 | Overweight → Equal-Weight | Stephens |
| 1/6/2022 | $23.00 | Peer Perform → Underperform | Wolfe Research |
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CHATTANOOGA, Tenn., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) is proud to announce its recognition as a 2024 "Top Company for Women to Work in Transportation" by Redefining the Road, the official magazine of the Women In Trucking Association (WIT). This prestigious honor highlights Covenant's commitment to an inclusive and supportive work environment, driven by its core values of empathy, servanthood, and virtue. Companies recognized by Redefining the Road share key traits: fostering diverse workplaces, offering competitive compensation, flexible work requirements, and providing professional growth opportunities. Brian Everett, publisher of Redefin
CHATTANOOGA, Tenn., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the third quarter ended September 30, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, October 24, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report third quarter earnings of $0.94 per diluted share and non-GAAP adjusted earnings of $1.09 per diluted share. "Highlights of our third quarter's results include year over year freight revenue growth of 2.1%, operating income growth of 7.2%, and non-GAAP
CHATTANOOGA, Tenn., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) announced its plans to release its third quarter earnings after 4:00 p.m. Eastern time on Wednesday, October 23, 2024. Covenant Logistics Group, Inc. will hold a live conference call to discuss its third quarter earnings release on Thursday, October 24, 2024, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be available for one week following the call at 800-645-7964, access code 3895#. In addition, you will be able to listen to the audio replay for an extended period of time on our investor
CHATTANOOGA, Tenn., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Food Logistics, the only publication dedicated to covering the global cold food supply chain, and Supply & Demand Chain Executive, which covers the entire global supply chain, named Abby Hamm as a winner of the 2024 Women in Supply Chain Award. This award honors female supply chain leaders whose accomplishments, mentorship, and leadership set a foundation for women at all levels of the supply chain. "These women are doing remarkable things for their communities, organizations, and teams, paving the way for future female leaders in an industry that's making a difference," says Marina Mayer, Editor-in-Chief of Food Logistics and Supply
CHATTANOOGA, Tenn., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on September 6, 2024, and is expected to be paid on September 27, 2024. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company's board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarte
CHATTANOOGA, Tenn., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. is proud to announce its recognition as a winner at the 41st Annual Quest for Quality Awards, the gold standard for customer satisfaction and performance excellence for carriers, ports, and logistics providers worldwide. Logistics Management's (LM) Annual Quest for Quality Awards are the culmination of a six-month research project conducted by Peerless Research Group (PRG). For four decades, LM's Quest for Quality Awards have been regarded in the transportation and logistics industry as the most important measure of customer satisfaction and performance excellence. Covenant's consistent dedication to serv
CHATTANOOGA, Tenn., July 26, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) ("Covenant" or the "Company") today announced that it is transferring the listing of its Class A common stock, $0.01 par value per share (the "Class A common stock"), to the New York Stock Exchange ("NYSE") from The NASDAQ Global Select Market ("NASDAQ"). Covenant expects to begin trading on the NYSE at market open on Tuesday, August 6, 2024, under its existing ticker symbol, "CVLG". Covenant expects its Class A common stock to continue to trade on NASDAQ until the close of the market on August 5, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to
CHATTANOOGA, Tenn., July 24, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) ("Covenant" or the "Company") announced today financial and operating results for the second quarter ended June 30, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, July 25, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report second quarter earnings of $0.88 per diluted share and non-GAAP adjusted earnings of $1.04 per diluted share. "Highlights of our second quarter's results include year over year freight revenue growth of 5.3% and adjusted operating income growth of 15.0%, fur
CHATTANOOGA, Tenn., July 01, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced its plans to release its second quarter earnings after 4:00 p.m. Eastern time on Wednesday, July 24, 2024. Covenant Logistics Group, Inc. will hold a live conference call to discuss its second quarter earnings release on Thursday, July 25, 2024, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be available for one week following the call at 800-645-7964, access code 3895#. In addition, you will be able to listen to the audio replay for an extended period of time on our investor we
CHATTANOOGA, Tenn., June 10, 2024 (GLOBE NEWSWIRE) -- Food Logistics named Covenant Logistics Group as one of the winners of this year's Top 3PL & Cold Storage Providers Award, which recognizes leading 3PLs and cold storage providers in the cold food and beverage industry. "3PLs and cold storage providers remain a key puzzle piece to building and nurturing partnerships, cultivating resilience and helping companies in the cold food space overcome supply chain disruptions," says Marina Mayer, Editor-in-Chief of Food Logistics and Supply & Demand Chain Executive. "Seventy-six percent of the winners plan to invest in software solutions this year. This is indicative of how forward-thinking the
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CHATTANOOGA, Tenn., April 29, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") today announced Dustin Koehl has been appointed as the Company's Chief Operating Officer, effective May 13, 2024. Mr. Koehl has over 17 years of transportation experience, including senior leadership positions in operations and sales. Chairman and Chief Executive Officer, David R. Parker, commented: "We are blessed to have Dustin join our leadership team. I believe Dustin's operational and sales experience, including his 12 year tenure at Total Transportation of Mississippi, will strengthen our leadership team. I look forward to Dustin and the rest of the leade
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CHATTANOOGA, Tenn., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the third quarter ended September 30, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, October 24, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report third quarter earnings of $0.94 per diluted share and non-GAAP adjusted earnings of $1.09 per diluted share. "Highlights of our third quarter's results include year over year freight revenue growth of 2.1%, operating income growth of 7.2%, and non-GAAP
CHATTANOOGA, Tenn., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) announced its plans to release its third quarter earnings after 4:00 p.m. Eastern time on Wednesday, October 23, 2024. Covenant Logistics Group, Inc. will hold a live conference call to discuss its third quarter earnings release on Thursday, October 24, 2024, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be available for one week following the call at 800-645-7964, access code 3895#. In addition, you will be able to listen to the audio replay for an extended period of time on our investor
CHATTANOOGA, Tenn., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on September 6, 2024, and is expected to be paid on September 27, 2024. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company's board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarte
CHATTANOOGA, Tenn., July 24, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) ("Covenant" or the "Company") announced today financial and operating results for the second quarter ended June 30, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, July 25, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report second quarter earnings of $0.88 per diluted share and non-GAAP adjusted earnings of $1.04 per diluted share. "Highlights of our second quarter's results include year over year freight revenue growth of 5.3% and adjusted operating income growth of 15.0%, fur
CHATTANOOGA, Tenn., July 01, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced its plans to release its second quarter earnings after 4:00 p.m. Eastern time on Wednesday, July 24, 2024. Covenant Logistics Group, Inc. will hold a live conference call to discuss its second quarter earnings release on Thursday, July 25, 2024, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be available for one week following the call at 800-645-7964, access code 3895#. In addition, you will be able to listen to the audio replay for an extended period of time on our investor we
CHATTANOOGA, Tenn., May 17, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on June 7, 2024, and is expected to be paid on June 28, 2024. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company's board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarter. About
CHATTANOOGA, Tenn., April 24, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the first quarter ended March 31, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, April 25, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report first quarter earnings of $0.29 per diluted share and non-GAAP adjusted earnings of $0.84 per diluted share. The primary EPS adjustment excludes approximately $8.1 million in pre-tax acquisition related contingent consideration expense for the achievement
CHATTANOOGA, Tenn., April 01, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced its plans to release its first quarter earnings after 4:00 p.m. Eastern time on Wednesday, April 24, 2024. Covenant Logistics Group, Inc. will hold a live conference call to discuss its first quarter earnings release on Thursday, April 25, 2024, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be available for one week following the call at 800-645-7964, access code 3895#. In addition, you will be able to listen to the audio replay for an extended period of time on our investor w
CHATTANOOGA, Tenn., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 1, 2024, and is expected to be paid on March 29, 2024. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company's board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarter. Ab
CHATTANOOGA, Tenn., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the fourth quarter ended December 31, 2023. The Company's conference call to discuss the quarter will be held at 9:00 A.M. Eastern Time on Wednesday, January 24, 2024. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report fourth quarter earnings of $0.93 per diluted share and non-GAAP adjusted earnings of $1.07 per diluted share." "Despite the challenges that come with a soft freight market, our team found a way to be successful in 2023. We achieved our second-best adjuste
Covenant Logistics Gr (NASDAQ:CVLG) reported quarterly earnings of $1.04 per share which beat the analyst consensus estimate of $0.98 by 6.12 percent. This is a 2.8 percent decrease over earnings of $1.07 per share from the same period last year. The company reported quarterly sales of $287.50 million which missed the analyst consensus estimate of $292.63 million by 1.75 percent. This is a 4.92 percent increase over sales of $274.02 million the same period last year.
Covenant Logistics Group, Inc. (NASDAQ:CVLG) ("Covenant" or the "Company") today announced Dustin Koehl has been appointed as the Company's Chief Operating Officer, effective May 13, 2024. Mr. Koehl has over 17 years of transportation experience, including senior leadership positions in operations and sales. Chairman and Chief Executive Officer, David R. Parker, commented: "We are blessed to have Dustin join our leadership team. I believe Dustin's operational and sales experience, including his 12 year tenure at Total Transportation of Mississippi, will strengthen our leadership team. I look forward to Dustin and the rest of the leadership team driving forward our strategic initiatives, incl
Covenant Logistics Gr (NASDAQ:CVLG) reported quarterly earnings of $0.84 per share which beat the analyst consensus estimate of $0.78 by 7.69 percent. This is a 9.68 percent decrease over earnings of $0.93 per share from the same period last year. The company reported quarterly sales of $278.76 million which beat the analyst consensus estimate of $273.30 million by 2.00 percent. This is a 4.46 percent increase over sales of $266.85 million the same period last year.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Needham raised ResMed Inc. (NYSE:RMD) price target from $180 to $215. Needham analyst Mike Matson maintained a Buy rating. ResMed shares fell 1.8% to close at $171.78 on Wednesday. See how other analysts view this stock. JP Morgan cut the price target for Hertz Global Holdings, Inc. (NASDAQ:HTZ) from $17 to $11. JP Morgan analyst Ryan Brinkman downgraded the stock from Overweight to Neutral. Hertz Global shares fell 2.8% to close at $8.49 on Wednesday. See how other analysts view this stock. KGI S
TD Cowen analyst Jason Seidl upgrades Covenant Logistics Gr (NASDAQ:CVLG) from Market Perform to Outperform and raises the price target from $51 to $66.
Covenant Logistics Gr (NASDAQ:CVLG) reported its Q4 earnings results on Tuesday, January 23, 2024 at 04:00 PM. Here's what investors need to know about the announcement. Earnings Covenant Logistics Gr beat estimated earnings by 3.88%, reporting an EPS of $1.07 versus an estimate of $1.03. Revenue was down $22.07 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.01 which was followed by a 4.45% drop in the share price the next day. Here's a look at Covenant Logistics Gr's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 1.12 0.95 0.81 1.41 EPS Actual 1.13 1.07 0.93 1.37 Revenue Estimate 289.65M 269.90M
Vertical Research analyst Jeffrey Kauffman initiates coverage on Covenant Logistics Gr (NASDAQ:CVLG) with a Buy rating and announces Price Target of $70.
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Covenant Logistics Gr (NASDAQ:CVLG) is set to give its latest quarterly earnings report on Tuesday, 2024-01-23. Here's what investors need to know before the announcement. Analysts estimate that Covenant Logistics Gr will report an earnings per share (EPS) of $1.03. Covenant Logistics Gr bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.01, which was followed by a 4
TD Cowen upgraded Covenant Logistics from Market Perform to Outperform and set a new price target of $66.00 from $51.00 previously
Vertical Research initiated coverage of Covenant Logistics with a rating of Buy and set a new price target of $70.00
Wolfe Research upgraded Covenant Logistics from Underperform to Peer Perform
Cowen downgraded Covenant Logistics from Outperform to Market Perform and set a new price target of $21.00 from $40.00 previously
Stephens downgraded Covenant Logistics from Overweight to Equal-Weight and set a new price target of $25.00 from $30.00 previously
Wolfe Research downgraded Covenant Logistics Group from Peer Perform to Underperform and set a new price target of $23.00
Stifel resumed coverage of Covenant Logistics with a rating of Hold and set a new price target of $25.00
Cowen reiterated coverage of Covenant Logistics with a rating of Outperform and set a new price target of $40.00 from $32.00 previously
Cowen reiterated coverage of Covenant Logistics with a rating of Outperform and set a new price target of $30.00 from $25.00 previously