Covenant Stock Sees Composite Rating Climb To 96 In Tough Market

Covenant (CVLG) saw its IBD SmartSelect Composite Rating jump to 96 Tuesday, up from 93 the day before.


The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Covenant stock is now out of buy range after clearing the 24.07 buy point in a cup without handle. Be aware that it is a thinly traded stock, with average daily dollar volume under $8 million.

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One weak spot is the company’s 65 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.

Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks. The RS line is at new highs, a postive sign.

In Q2, the company posted 4,900% earnings-per-share growth. That marks five straight reports with rising EPS growth. Sales growth climbed 34%, up from 5% in the prior quarter. The company has now posted accelerating growth in each of the last four quarters.

Covenant holds the No. 3 rank among its peers in the Transportation-Truck industry group. Arcbest (ARCB) is the top-ranked stock within the group.


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