Covia (CVIA) Trading Up 9.3%
Covia Holdings (NASDAQ:CVIA) was up 9.3% during mid-day trading on Thursday . The stock traded as high as $6.15 and last traded at $5.98. Approximately 624,671 shares traded hands during trading, an increase of 8% from the average daily volume of 577,016 shares. The stock had previously closed at $5.47.
Several equities research analysts have issued reports on CVIA shares. Credit Suisse Group cut shares of Covia from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $14.00 to $7.50 in a research note on Wednesday, October 3rd. Morgan Stanley started coverage on shares of Covia in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $11.00 target price on the stock. Bank of America began coverage on shares of Covia in a research note on Wednesday, October 17th. They set an “underperform” rating on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $17.50 price target on shares of Covia in a report on Friday, August 17th. Finally, Jefferies Financial Group lowered Covia from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Covia has a consensus rating of “Hold” and a consensus price target of $14.22.
Covia (NASDAQ:CVIA) last posted its quarterly earnings results on Tuesday, August 14th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.62). The firm had revenue of $508.42 million during the quarter, compared to analyst estimates of $595.59 million. During the same quarter in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 56.9% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of CVIA. American Securities LLC purchased a new stake in Covia in the 2nd quarter valued at about $167,701,000. Hartland & Co. LLC purchased a new stake in Covia in the 2nd quarter valued at about $54,407,000. BlackRock Inc. purchased a new stake in Covia in the 2nd quarter valued at about $39,270,000. Bank of New York Mellon Corp purchased a new stake in Covia in the 2nd quarter valued at about $34,098,000. Finally, Point72 Asset Management L.P. purchased a new stake in Covia in the 2nd quarter valued at about $24,263,000.
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Covia Company Profile (NASDAQ:CVIA)
There is no company description available for Covia Holdings Corp.
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