Shares of Covia Holdings (NASDAQ:CVIA) have been given an average rating of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $6.00.
A number of research firms have recently commented on CVIA. Zacks Investment Research downgraded shares of Covia from a “hold” rating to a “sell” rating in a report on Monday, July 15th. Bank of America reaffirmed an “underperform” rating and set a $1.50 price objective (down from $4.00) on shares of Covia in a report on Tuesday, June 25th. Morgan Stanley reduced their price objective on shares of Covia from $5.50 to $2.50 and set an “underweight” rating for the company in a report on Friday, July 12th. Finally, Barclays raised shares of Covia from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $2.00 to $3.00 in a report on Tuesday.
Hedge funds have recently made changes to their positions in the stock. Pensionmark Financial Group LLC bought a new position in Covia during the 2nd quarter valued at about $25,000. BNP Paribas Arbitrage SA lifted its holdings in Covia by 359.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock valued at $41,000 after purchasing an additional 5,771 shares during the last quarter. Bessemer Group Inc. bought a new position in Covia during the 2nd quarter valued at about $43,000. Investure LLC bought a new position in Covia during the 2nd quarter valued at about $43,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in Covia by 105.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 26,841 shares of the company’s stock valued at $53,000 after purchasing an additional 13,781 shares during the last quarter.
NASDAQ CVIA opened at $1.70 on Wednesday. The company’s fifty day moving average is $1.75 and its two-hundred day moving average is $3.78. Covia has a 52-week low of $1.28 and a 52-week high of $13.14.
Covia (NASDAQ:CVIA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $444.94 million for the quarter, compared to the consensus estimate of $494.36 million. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share.
Covia Company Profile
Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.
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