Covia (NASDAQ:CVIA) had its target price cut by equities research analysts at Morgan Stanley from $5.50 to $2.50 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 25.00% from the stock’s current price.
Separately, Bank of America restated an “underperform” rating and set a $1.25 price objective (down from $4.50) on shares of Superior Energy Services in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.77.
Shares of NASDAQ:CVIA opened at $2.00 on Friday. Covia has a 12 month low of $1.55 and a 12 month high of $18.79. The stock’s fifty day moving average is $2.22.
Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.04). The company had revenue of $428.25 million for the quarter, compared to analyst estimates of $443.83 million. During the same quarter last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of CVIA. BNP Paribas Arbitrage SA increased its stake in Covia by 359.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,375 shares of the company’s stock valued at $41,000 after buying an additional 5,771 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Covia in the 4th quarter valued at $77,000. Bank of America Corp DE increased its stake in Covia by 183.9% in the 4th quarter. Bank of America Corp DE now owns 29,952 shares of the company’s stock valued at $102,000 after buying an additional 19,401 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Covia in the 4th quarter valued at $114,000. Finally, Rhumbline Advisers increased its stake in Covia by 48.2% in the 4th quarter. Rhumbline Advisers now owns 39,632 shares of the company’s stock valued at $136,000 after buying an additional 12,881 shares during the last quarter.
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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