Covia (CVIA) Cut to “Hold” at Jefferies Financial Group

Covia (NASDAQ:CVIA) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

A number of other analysts have also recently commented on CVIA. Wells Fargo & Co initiated coverage on Covia in a research report on Friday, September 14th. They set a “market perform” rating and a $11.00 price objective for the company. Morgan Stanley cut Covia from an “equal” rating to a “weight” rating in a research report on Thursday, October 11th. Seaport Global Securities reiterated a “buy” rating on shares of Covia in a research report on Thursday, August 30th. Zacks Investment Research cut Covia from a “hold” rating to a “strong sell” rating in a research report on Monday, August 20th. Finally, Royal Bank of Canada cut Covia from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Shares of NASDAQ:CVIA opened at $7.60 on Wednesday. Covia has a 1 year low of $7.22 and a 1 year high of $30.00.

Covia (NASDAQ:CVIA) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.62). The firm had revenue of $508.42 million during the quarter, compared to analysts’ expectations of $595.59 million. Covia’s quarterly revenue was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Investment Advisors Ltd. purchased a new stake in Covia in the second quarter worth about $111,000. Cubist Systematic Strategies LLC purchased a new stake in Covia in the second quarter worth about $117,000. Russell Investments Group Ltd. purchased a new stake in Covia in the second quarter worth about $158,000. WealthTrust Fairport LLC purchased a new stake in Covia in the second quarter worth about $164,000. Finally, Strs Ohio purchased a new stake in Covia in the second quarter worth about $168,000.

About Covia

There is no company description available for Covia Holdings Corp.

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