Covanta Holding Corporation (NYSE:CVA)‘s stock had its “buy” rating reiterated by Robert W. Baird in a research note issued to investors on Friday. They presently have a $17.00 target price on the energy company’s stock. Robert W. Baird’s target price points to a potential upside of 12.96% from the company’s current price.
CVA has been the topic of a number of other research reports. Zacks Investment Research upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 18th. BMO Capital Markets began coverage on Covanta Holding Corporation in a report on Thursday, June 29th. They set a “market perform” rating and a $16.00 target price on the stock. BidaskClub cut Covanta Holding Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Stifel Nicolaus upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $15.50 to $17.00 in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Covanta Holding Corporation in a report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.07.
Covanta Holding Corporation (NYSE CVA) opened at 15.05 on Friday. The stock has a 50 day moving average price of $14.44 and a 200 day moving average price of $14.40. The stock’s market cap is $1.96 billion. Covanta Holding Corporation has a 52-week low of $13.00 and a 52-week high of $16.50.
Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). The firm had revenue of $424.00 million during the quarter, compared to analyst estimates of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, equities research analysts forecast that Covanta Holding Corporation will post ($0.22) EPS for the current year.
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Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in shares of Covanta Holding Corporation during the 2nd quarter worth $107,000. IFP Advisors Inc lifted its stake in shares of Covanta Holding Corporation by 42.1% during the 2nd quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after purchasing an additional 2,647 shares during the period. Connable Office Inc. purchased a new position in shares of Covanta Holding Corporation during the 2nd quarter worth $133,000. ProShare Advisors LLC purchased a new position in shares of Covanta Holding Corporation during the 2nd quarter worth $147,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Covanta Holding Corporation by 15.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock worth $178,000 after purchasing an additional 1,500 shares during the period. 96.22% of the stock is currently owned by institutional investors.
Covanta Holding Corporation Company Profile
Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.
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