Covia (CVIA) Raised to Hold at Zacks Investment Research

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Covia (NASDAQ:CVIA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Covia Holdings Corporation provides metal mining services. The Company produces low-iron nepheline syenite for glass, ceramics, paints, and plastics as well as offers quartz proppants for oil and natural gas simulation and recovery. It serves agriculture, construction, environment and sports sectors primarily in the United States. Covia Holdings Corporation is based in New Canaan, United States. “

A number of other research firms have also recently commented on CVIA. Jefferies Financial Group reiterated a “buy” rating and set a $15.00 target price on shares of Covia in a research note on Friday, August 17th. Royal Bank of Canada reiterated a “buy” rating and set a $18.00 target price on shares of Covia in a research note on Wednesday, August 15th. Piper Jaffray Companies reiterated a “buy” rating and set a $17.50 target price on shares of Covia in a research note on Friday, August 17th. Johnson Rice cut Covia from an “accumulate” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Cowen reiterated a “buy” rating and set a $19.00 target price on shares of Covia in a research note on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Shares of NASDAQ CVIA traded down $0.25 during mid-day trading on Thursday, reaching $5.49. 605,400 shares of the company’s stock were exchanged, compared to its average volume of 619,733. Covia has a 52 week low of $4.59 and a 52 week high of $30.00.

Covia (NASDAQ:CVIA) last released its earnings results on Wednesday, November 14th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.21). The firm had revenue of $523.40 million during the quarter, compared to the consensus estimate of $615.07 million. The company’s revenue was up 50.5% compared to the same quarter last year.

In other news, Director William E. Conway acquired 20,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average cost of $6.98 per share, for a total transaction of $139,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

A number of institutional investors have recently made changes to their positions in CVIA. GSA Capital Partners LLP bought a new stake in Covia in the 3rd quarter valued at about $110,000. Cubist Systematic Strategies LLC bought a new stake in Covia in the 2nd quarter valued at about $117,000. Sterling Investment Advisors Ltd. raised its stake in Covia by 150.0% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 15,000 shares of the company’s stock valued at $135,000 after acquiring an additional 9,000 shares during the period. Ancora Advisors LLC bought a new stake in Covia in the 3rd quarter valued at about $135,000. Finally, Russell Investments Group Ltd. bought a new stake in Covia in the 2nd quarter valued at about $158,000.

Covia Company Profile

There is no company description available for Covia Holdings Corp.

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