Celadon Group Inc. (CGI) Stock Price Down 4.3%
Celadon Group Inc. (NYSE:CGI) shares dropped 4.3% during mid-day trading on Monday . The company traded as low as $8.35 and last traded at $8.36, with a volume of 142,620 shares changing hands. The stock had previously closed at $8.74.
CGI has been the topic of a number of research analyst reports. TD Securities reiterated a “buy” rating on shares of Celadon Group in a research note on Monday, April 4th. Scotiabank reiterated an “outperform” rating and issued a $64.00 target price on shares of Celadon Group in a research note on Thursday, March 31st. Desjardins upgraded shares of Celadon Group from a “hold” rating to a “buy” rating in a research note on Friday, May 27th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Celadon Group in a research note on Sunday, May 1st. Finally, Stifel Nicolaus lowered shares of Celadon Group from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Two 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 stock. The company has an average rating of “Buy” and an average price target of $31.86.
The firm has a market capitalization of $227.52 million and a P/E ratio of 6.43. The company has a 50-day moving average price of $9.09 and a 200-day moving average price of $9.27.
Celadon Group (NYSE:CGI) last released its earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm earned $259.60 million during the quarter, compared to the consensus estimate of $262.10 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Celadon Group Inc. will post $1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 8th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.97%.
A number of hedge funds have recently added to or reduced their stakes in CGI. Buckhead Capital Management LLC increased its stake 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 last quarter. First Trust Advisors LP increased its stake 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 increased its stake 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. increased its stake 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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