Covia (CVIA) Lowered to Weight at Morgan Stanley

Covia (NASDAQ:CVIA) was downgraded by investment analysts at Morgan Stanley from an “equal” rating to a “weight” rating in a report released on Thursday, MarketBeat.com reports.

Several other research analysts have also commented on the company. Credit Suisse Group lowered Covia from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $14.00 to $7.50 in a research report on Wednesday, October 3rd. Piper Jaffray Companies lowered Covia from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada lowered Covia from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 20th. Wells Fargo & Co assumed coverage on Covia in a research report on Friday, September 14th. They issued a “market perform” rating and a $11.00 price target for the company. Finally, B. Riley reduced their price target on Covia from $27.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Covia has a consensus rating of “Hold” and an average price target of $15.00.

CVIA opened at $7.52 on Thursday. Covia has a 12 month low of $7.22 and a 12 month high of $30.00.

Covia (NASDAQ:CVIA) last released its quarterly earnings results on Tuesday, August 14th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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. The company’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share.

A number of hedge funds have recently made changes to their positions in the stock. United Services Automobile Association purchased a new position in Covia during the 2nd quarter worth $2,147,000. Northern Trust Corp purchased a new position in Covia during the 2nd quarter worth $7,529,000. WealthTrust Fairport LLC purchased a new position in Covia during the 2nd quarter worth $164,000. Bank of New York Mellon Corp purchased a new position in Covia during the 2nd quarter worth $34,098,000. Finally, HighPoint Advisor Group LLC purchased a new position in Covia during the 2nd quarter worth $409,000.

Covia Company Profile

There is no company description available for Covia Holdings Corp.

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Analyst Recommendations for Covia (NASDAQ:CVIA)

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