Covia (CVIA) Stock Rating Lowered by Morgan Stanley

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Covia (NASDAQ:CVIA) was downgraded by analysts at Morgan Stanley from an “equal” rating to a “weight” rating in a research note issued on Thursday, Marketbeat reports.

A number of other equities analysts have also recently commented on CVIA. Seaport Global Securities reiterated a “buy” rating on shares of Covia in a report on Thursday, August 30th. Piper Jaffray Companies assumed coverage on Covia in a report on Monday, June 18th. They issued an “overweight” rating and a $24.00 target price for the company. Credit Suisse Group dropped their target price on Covia from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 15th. Royal Bank of Canada cut Covia from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 20th. Finally, Cowen reiterated a “buy” rating and issued a $19.00 target price on shares of Covia in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Covia has a consensus rating of “Hold” and an average target price of $15.00.

Shares of Covia stock opened at $7.52 on Thursday. Covia has a one year low of $7.22 and a one year high of $30.00.

Covia (NASDAQ:CVIA) last announced its earnings results on Tuesday, August 14th. The company reported $0.14 EPS for the quarter, missing the Zacks’ 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 business’s revenue for the quarter was up 56.9% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Securities LLC purchased a new position in Covia during the 2nd quarter valued at $167,701,000. Hartland & Co. LLC purchased a new position in Covia during the 2nd quarter valued at $54,407,000. BlackRock Inc. purchased a new position in Covia during the 2nd quarter valued at $39,270,000. Bank of New York Mellon Corp purchased a new position in Covia during the 2nd quarter valued at $34,098,000. Finally, Point72 Asset Management L.P. purchased a new position in Covia during the 2nd quarter valued at $24,263,000.

About Covia

There is no company description available for Covia Holdings Corp.

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Analyst Recommendations for Covia (NASDAQ:CVIA)

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