Jefferies Financial Group cut shares of Covia (NASDAQ:CVIA) from a buy rating to a hold rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $8.00 price target on the stock. Jefferies Financial Group also issued estimates for Covia’s Q1 2019 earnings at $0.15 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.05 EPS and FY2020 earnings at $0.45 EPS.
Several other research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Covia from an equal rating to a weight rating in a report on Thursday, October 11th. 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 report on Wednesday, October 3rd. Piper Jaffray Companies cut shares of Covia from an overweight rating to a neutral rating in a report on Tuesday, October 2nd. Royal Bank of Canada cut shares of Covia from an outperform rating to a sector perform rating in a report on Thursday, September 20th. Finally, Wells Fargo & Co began coverage on shares of Covia in a report on Friday, September 14th. They set a market perform rating and a $11.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Covia has a consensus rating of Hold and an average price target of $14.22.
Covia stock traded down $0.21 during trading hours on Wednesday, hitting $6.81. The company had a trading volume of 15,412 shares, compared to its average volume of 540,685. Covia has a one year low of $6.53 and a one year high of $30.00.
Covia (NASDAQ:CVIA) last released its quarterly earnings results on Tuesday, August 14th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.62). The business had revenue of $508.42 million for the quarter, compared to analysts’ expectations of $595.59 million. The firm’s revenue for the quarter was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of CVIA. Viking Fund Management LLC acquired a new stake in shares of Covia during the 2nd quarter worth approximately $668,000. Exane Derivatives acquired a new stake in shares of Covia during the 2nd quarter worth approximately $358,000. James Investment Research Inc. acquired a new stake in shares of Covia during the 2nd quarter worth approximately $1,251,000. Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Covia during the 2nd quarter worth approximately $4,621,000. Finally, Sterling Investment Advisors Ltd. acquired a new stake in shares of Covia during the 2nd quarter worth approximately $111,000.
There is no company description available for Covia Holdings Corp.
Further Reading: Buyback
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