Brokerages Set Celadon Group Inc. (CGI) Price Target at $25.22
Celadon Group Inc. (NYSE:CGI) has been given an average recommendation of “Buy” by the sixteen research firms that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.22.
Several equities research analysts have commented on CGI shares. Avondale Partners raised shares of Celadon Group from a “market perform” rating to an “outperform” rating and set a $11.30 price target on the stock in a report on Wednesday, August 31st. KeyCorp reaffirmed a “buy” rating and issued a $11.00 price target on shares of Celadon Group in a report on Monday, September 26th. Zacks Investment Research lowered shares of Celadon Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 30th. Stifel Nicolaus lowered shares of Celadon Group from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Celadon Group in a report on Wednesday, June 22nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in Celadon Group during the second quarter valued at $3,583,000. Wellington Management Group LLP increased its position in Celadon Group by 13.3% in the first quarter. Wellington Management Group LLP now owns 2,476,302 shares of the company’s stock valued at $25,951,000 after buying an additional 291,369 shares during the period. Frontier Capital Management Co. LLC increased its position in Celadon Group by 14.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,721,300 shares of the company’s stock valued at $14,063,000 after buying an additional 220,412 shares during the period. Penn Capital Management Co. Inc. increased its position in Celadon Group by 47.5% in the second quarter. Penn Capital Management Co. Inc. now owns 682,407 shares of the company’s stock valued at $5,575,000 after buying an additional 219,682 shares during the period. Finally, Vanguard Group Inc. increased its position in Celadon Group by 14.5% in the second quarter. Vanguard Group Inc. now owns 1,213,955 shares of the company’s stock valued at $9,918,000 after buying an additional 154,175 shares during the period. Hedge funds and other institutional investors own 90.36% of the company’s stock.
Celadon Group (NYSE:CGI) opened at 7.06 on Thursday. Celadon Group has a 12 month low of $6.19 and a 12 month high of $16.59. The stock’s 50 day moving average price is $8.28 and its 200-day moving average price is $8.87. The stock has a market cap of $194.95 million, a price-to-earnings ratio of 8.02 and a beta of 1.50.
Celadon Group (NYSE:CGI) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.13. Celadon Group had a net margin of 2.33% and a return on equity of 6.63%. Equities analysts expect that Celadon Group will post $0.67 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.08 annualized dividend and a dividend yield of 1.13%. Celadon Group’s dividend payout ratio (DPR) is presently 8.89%.
About Celadon Group
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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