Piper Jaffray Companies Reaffirms Buy Rating for Covia (CVIA)

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Piper Jaffray Companies restated their buy rating on shares of Covia (NASDAQ:CVIA) in a report released on Friday. They currently have a $17.50 target price on the stock. Piper Jaffray Companies also issued estimates for Covia’s Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.08 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.57 EPS, Q1 2020 earnings at $0.35 EPS, Q2 2020 earnings at $0.33 EPS and FY2020 earnings at $1.36 EPS.

A number of other equities analysts have also recently weighed in on the company. Seaport Global Securities reissued a buy rating on shares of Covia in a report on Friday, June 1st. Credit Suisse Group initiated coverage on Covia in a report on Friday, June 8th. They issued a neutral rating and a $24.00 price target for the company. Guggenheim reissued a neutral rating on shares of Covia in a report on Friday, July 6th. Royal Bank of Canada reissued a buy rating and issued a $18.00 price target on shares of Covia in a report on Wednesday, August 15th. Finally, Cowen reissued a buy rating and issued a $19.00 price target on shares of Covia in a report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Covia currently has a consensus rating of Buy and a consensus target price of $18.25.

Shares of CVIA stock opened at $12.52 on Friday. Covia has a 1 year low of $11.75 and a 1 year high of $30.00.

Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Tuesday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.62). The company had revenue of $508.42 million during the quarter, compared to analysts’ expectations of $595.59 million. The business’s revenue was up 56.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Securities LLC acquired a new position in shares of Covia in the second quarter worth $167,701,000. Exane Derivatives acquired a new position in Covia in the second quarter valued at $358,000. Viking Fund Management LLC acquired a new position in Covia in the second quarter valued at $668,000. Sterling Investment Advisors Ltd. acquired a new position in Covia in the second quarter valued at $111,000. Finally, James Investment Research Inc. acquired a new position in Covia in the second quarter valued at $1,251,000.

About Covia

There is no company description available for Covia Holdings Corp.

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Analyst Recommendations for Covia (NASDAQ:CVIA)

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