Celadon Group Inc. (CGI) Shares Up 3.8%
Celadon Group Inc. (NYSE:CGI) shares shot up 3.8% during trading on Friday . The company traded as high as $8.83 and last traded at $8.71, with a volume of 248,078 shares changing hands. The stock had previously closed at $8.39.
A number of research firms have recently commented on CGI. Credit Suisse Group AG reiterated an “outperform” rating on shares of Celadon Group in a report on Sunday, May 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Celadon Group in a research note on Sunday, May 1st. Cowen and Company lifted their target price on Celadon Group from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. Zacks Investment Research upgraded Celadon Group from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Desjardins reissued a “hold” rating on shares of Celadon Group in a report on Friday, April 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $31.86.
The stock has a market cap of $241.33 million and a PE ratio of 6.82. The stock’s 50 day moving average is $9.16 and its 200 day moving average is $9.27.
Celadon Group (NYSE:CGI) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. During the same period last year, the business posted $0.36 earnings per share. The business earned $259.60 million during the quarter, compared to the consensus estimate of $262.10 million. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Celadon Group Inc. will post $1.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 8th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, July 6th.
Several hedge funds and institutional investors have added to or reduced their stakes in CGI. Buckhead Capital Management LLC raised its position in Celadon Group by 79.5% in the fourth quarter. Buckhead Capital Management LLC now owns 134,631 shares of the company’s stock worth $1,332,000 after buying an additional 59,624 shares during the period. First Trust Advisors LP raised its position in Celadon Group by 1.8% in the fourth quarter. First Trust Advisors LP now owns 171,927 shares of the company’s stock worth $1,700,000 after buying an additional 3,003 shares during the last quarter. Bank of Montreal Can raised its position in Celadon Group by 164,905.0% in the fourth quarter. Bank of Montreal Can now owns 495,015 shares of the company’s stock worth $4,896,000 after buying an additional 494,715 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Celadon Group by 18.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,649,832 shares of the company’s stock worth $16,317,000 after buying an additional 258,505 shares during the last quarter.
Celadon Group, Inc (Celadon) provides truckload freight transportation. The Company operates through two segments: asset based and asset light. The asset based segment offers services, such as United States domestic dry van, refrigerated, and flatbed service; cross-border service between the United States and each of Mexico and Canada; intra-Mexico and intra-Canada service; dedicated contract service; regional and specialized short haul service, and rail intermodal service.
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