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 |
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
CHATTANOOGA, Tenn., Feb. 14, 2025 (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 $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 7, 2025, and is expected to be paid on March 28, 2025. 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.
CHATTANOOGA, Tenn., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the fourth quarter ended December 31, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Friday, January 24, 2025. All references made to share or per share amounts in this press release have been retroactively adjusted to reflect the effects of our recent 2-for-1 stock split. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report fourth quarter earnings of $0.24 per diluted share and non-GAAP adjusted earnings of $0.49 per di
CHATTANOOGA, Tenn., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) announced its plans to release its fourth quarter earnings after 4:00 p.m. Eastern time on Thursday, January 23, 2025. Covenant Logistics Group, Inc. will hold a live conference call to discuss its fourth quarter earnings release on Friday, January 24, 2025, 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., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a two-for-one stock split of Covenant's Class A common stock and Class B common stock to make Covenant's stock more accessible to investors and employees. The stock split will be effected by means of a stock dividend to the holders of record of Covenant's Class A common stock and Class B common stock as of the close of business on December 20, 2024, the record date for the dividend. As a result of the dividend, each holder of a share of Covenant's Class A common stock will receive one additional share of Cla
CHATTANOOGA, Tenn., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG), a leading transportation and logistics provider, is proud to announce its recognition as a Rand McNally Safety Program of the Year winner for 2024. This recognition celebrates Covenant's dedication to advancing fleet safety through proactive management, innovative technology, and a deeply ingrained safety culture. In addition to this prestigious honor, Covenant's Marshall Rushworth, Director of Fleet Safety Technology, was named the Rand McNally 2024 Safety Leader of the Year. This individual award highlights Rushworth's visionary leadership in building and guiding the team responsible for
CHATTANOOGA, Tenn., Nov. 25, 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 December 6, 2024, and is expected to be paid on December 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., 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., Feb. 14, 2025 (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 $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 7, 2025, and is expected to be paid on March 28, 2025. 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.
CHATTANOOGA, Tenn., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today financial and operating results for the fourth quarter ended December 31, 2024. The Company's conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Friday, January 24, 2025. All references made to share or per share amounts in this press release have been retroactively adjusted to reflect the effects of our recent 2-for-1 stock split. Chairman and Chief Executive Officer, David R. Parker, commented: "We are pleased to report fourth quarter earnings of $0.24 per diluted share and non-GAAP adjusted earnings of $0.49 per di
CHATTANOOGA, Tenn., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) announced its plans to release its fourth quarter earnings after 4:00 p.m. Eastern time on Thursday, January 23, 2025. Covenant Logistics Group, Inc. will hold a live conference call to discuss its fourth quarter earnings release on Friday, January 24, 2025, 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., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE:CVLG) ("Covenant" or the "Company") announced today that its board of directors has declared a two-for-one stock split of Covenant's Class A common stock and Class B common stock to make Covenant's stock more accessible to investors and employees. The stock split will be effected by means of a stock dividend to the holders of record of Covenant's Class A common stock and Class B common stock as of the close of business on December 20, 2024, the record date for the dividend. As a result of the dividend, each holder of a share of Covenant's Class A common stock will receive one additional share of Cla
CHATTANOOGA, Tenn., Nov. 25, 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 December 6, 2024, and is expected to be paid on December 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., 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
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8-K - COVENANT LOGISTICS GROUP, INC. (0000928658) (Filer)
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8-K - COVENANT LOGISTICS GROUP, INC. (0000928658) (Filer)
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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
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