Covia Holdings (CVIA) Given Average Recommendation of “Hold” by Analysts

Shares of Covia Holdings (NASDAQ:CVIA) have earned an average recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.00.

CVIA has been the subject of several recent research reports. Zacks Investment Research upgraded Covia from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. OTR Global downgraded Covia from a “positive” rating to a “negative” rating in a report on Friday, December 21st. Cowen downgraded Covia from an “outperform” rating to a “market perform” rating in a report on Thursday, January 17th. Finally, Barclays initiated coverage on Covia in a report on Tuesday, March 12th. They issued an “underweight” rating and a $4.00 price target for the company.

NASDAQ CVIA traded down $0.04 during trading hours on Friday, hitting $5.91. The company had a trading volume of 251,181 shares, compared to its average volume of 443,955. Covia has a fifty-two week low of $3.23 and a fifty-two week high of $30.00.

Covia (NASDAQ:CVIA) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.09). The company had revenue of $441.30 million during the quarter, compared to analysts’ expectations of $464.57 million. Covia’s quarterly revenue was up 31.4% compared to the same quarter last year.

Several institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in shares of Covia by 16.5% during the third quarter. Alliancebernstein L.P. now owns 59,400 shares of the company’s stock valued at $533,000 after acquiring an additional 8,400 shares in the last quarter. FMR LLC grew its stake in shares of Covia by 0.8% during the fourth quarter. FMR LLC now owns 1,150,800 shares of the company’s stock valued at $3,936,000 after acquiring an additional 9,334 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Covia by 31.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 42,089 shares of the company’s stock valued at $209,000 after acquiring an additional 9,999 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Covia during the fourth quarter valued at about $38,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Covia during the third quarter valued at about $110,000.

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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Analyst Recommendations for Covia (NASDAQ:CVIA)

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