One of the most dreaded feelings for an investor is when the stock they just bought is overvalued, or they missed out on an undervalued opportunity by not acting fast enough.

But what if you had the insights to effectively evaluate a company like Covenant Logistics Group Inc before investing? Investing requires a certain perspective to avoid being overly confident in a company or worried about cyclical changes. A smart way to take the guesswork out of knowing when to buy or sell Covenant Logistics Group Inc’s stock is to have the right tools and resources as well as a clear monitoring process.

In this article, we go over a few key elements for understanding Covenant Logistics Group Inc’s stock price such as:

• Current stock price and volume
• Stock price history
• Upgrades and downgrades from analysts
• Stock price momentum as measured by its relative strength

About Covenant Logistics Group Inc (CVLG)

Before we jump into Covenant Logistics Group Inc’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. The Company's segments include Expedited, Dedicated, Managed Freight business and Warehousing. The Expedited business operates primarily provides truckload services to customers with high service freight and delivery standards. The Dedicated business provides customers with committed truckload capacity over contracted periods. The Managed Freight business includes brokerage services and transportation management services (TMS). The Brokerage services provide logistics capacity by outsourcing the carriage of customers' freight to third parties. The Warehousing segment provides day-to-day warehouse management services to customers. The Company also provides shuttle and switching services related to shuttling containers and trailers in or around freight yards and to/from warehouses.

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Covenant Logistics Group Inc’s Stock Price as of Market Close

As of February 17, 2023, 4:00 PM CST, Covenant Logistics Group Inc’s stock price was $34.95.

Covenant Logistics Group Inc is up 4.08% from its previous closing price of $33.58.

During the last market session, Covenant Logistics Group Inc’s stock traded between $32.40 and $34.39. Currently, there are 14.41 million shares of Covenant Logistics Group Inc stock available for purchase.

Covenant Logistics Group Inc’s price-earnings (P/E) ratio is currently at 4.8, which is low compared to the Freight & Logistics - Ground industry median of 15. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Covenant Logistics Group Inc Stock Price History

Covenant Logistics Group Inc’s (CVLG) price is currently up 5.4% so far this month.

During the month of February, Covenant Logistics Group Inc’s stock price has reached a high of $36.51 and a low of $32.40.

Over the last year, Covenant Logistics Group Inc has hit prices as high as $40.37 and as low as $17.23. Year to date, Covenant Logistics Group Inc’s stock is up 32.24%.

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What Caused Covenant Logistics Group Inc Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

One of the most common factors that can drastically impact a stock’s price is analyst upgrades and downgrades. When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of February 16, 2023, there were 2 analysts who downgraded Covenant Logistics Group Inc’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Covenant Logistics Group Inc’s financial health and valuation. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others.

Therefore, AAII developed a composite valuation to help resolve such issues. AAII’s Value Grade analyzes six distinct variables: price-to-sales (P/S) ratio, price-earnings (P/E) ratio, the ratio of enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), shareholder yield, price-to-book-value (P/B) ratio and price-to-free-cash-flow (P/FCF) ratio.

Covenant Logistics Group Inc’s current valuation based on AAII’s Value Grade is a A, which means it is considered to be Deep Value.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Covenant Logistics Group Inc (CVLG) by visiting AAII Stock Evaluator.

Relative Price Strength of Covenant Logistics Group Inc

Relative price strength addresses the relationship between a stock price’s trend and the price trend of the market. This ratio is expressed as a percentage and helps investors understand a company’s momentum as well as its value. You can use relative price strength to select investments that have been outperforming the market or a specific benchmark.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. The weighted four-quarter relative price strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40%, and each of the three previous quarters are given a weighting of 20%.

As of February 16, 2023, Covenant Logistics Group Inc has a weighted four-quarter relative price strength of 9.25%, which translates to a Momentum Score of 86 and is considered to be Very Strong.

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Covenant Logistics Group Inc Stock Price: Bottom Line

As of February 17, 2023, Covenant Logistics Group Inc’s stock price is $34.95, which is up 4.08% from its previous closing price.

At AAII, we stress that investors should never buy or sell a stock solely based on its stock price. Past returns do not guarantee future performance. Therefore, you should consider multiple ratios, fundamentals and analytics before making a decision. Whether you decide it’s a good time to buy or sell Covenant Logistics Group Inc’s stock based on its stock price forecast is ultimately up to you.

It’s important to understand that stock prices are driven by a variety of factors, but ultimately the price at any given moment is due to the supply and demand in the market. Stock price overviews, like the one you just read, only give you a small snapshot of a company’s performance, value and momentum.

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