Celadon Group Inc. (CGI) Sees Large Volume Increase
Celadon Group Inc. (NYSE:CGI) shares saw unusually-strong trading volume on Wednesday . Approximately 491,838 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 356,507 shares.The stock last traded at $7.58 and had previously closed at $7.38.
Several equities analysts have weighed in on CGI shares. Stifel Nicolaus downgraded Celadon Group from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Zacks Investment Research raised Celadon Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Celadon Group in a research report on Wednesday, June 22nd. Avondale Partners raised Celadon Group from a “market perform” rating to an “outperform” rating and set a $11.30 target price for the company in a research report on Wednesday. Finally, Desjardins raised Celadon Group from a “hold” rating to a “buy” rating in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $29.29.
The company has a market capitalization of $215.65 million and a price-to-earnings ratio of 6.09. The stock’s 50-day moving average is $7.81 and its 200 day moving average is $9.15.
An institutional investor recently raised its position in Celadon Group stock. Ameriprise Financial Inc. boosted its position in Celadon Group Inc. (NYSE:CGI) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,095 shares of the company’s stock after buying an additional 7,199 shares during the period. Ameriprise Financial Inc. owned 0.50% of Celadon Group worth $1,345,000 as of its most recent filing with the SEC.
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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