Covia Holdings (CVIA) Given Consensus Recommendation of “Hold” by Brokerages

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Covia Holdings (NASDAQ:CVIA) has earned an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.20.

Several analysts recently commented on CVIA shares. Cowen downgraded shares of Covia from an “outperform” rating to a “market perform” rating in a research report on Thursday. Zacks Investment Research cut shares of Covia from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. OTR Global lowered shares of Covia from a “positive” rating to a “negative” rating in a report on Friday, December 21st. B. Riley cut their price objective on shares of Covia from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, November 20th. Finally, Credit Suisse Group cut their price objective on shares of Covia from $7.50 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, November 15th.

In other Covia news, Director William E. Conway acquired 20,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $6.98 per share, for a total transaction of $139,600.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Covia in the 4th quarter worth approximately $38,000. GSA Capital Partners LLP acquired a new position in Covia in the third quarter worth $110,000. Cubist Systematic Strategies LLC acquired a new position in Covia in the second quarter worth $117,000. Meeder Asset Management Inc. boosted its stake in Covia by 88.8% in the fourth quarter. Meeder Asset Management Inc. now owns 36,976 shares of the company’s stock worth $127,000 after purchasing an additional 17,388 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. lifted its stake in shares of Covia by 150.0% during the third 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.

CVIA stock traded up $0.10 during trading on Friday, reaching $5.25. 261,703 shares of the stock were exchanged, compared to its average volume of 560,677. Covia has a 1 year low of $3.23 and a 1 year high of $30.00.

Covia (NASDAQ:CVIA) last announced its quarterly earnings results on Wednesday, November 14th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.21). The business had revenue of $523.40 million for the quarter, compared to analyst estimates of $615.07 million. The firm’s revenue was up 50.5% compared to the same quarter last year.

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.

Further Reading: What is a stock split?

Analyst Recommendations for Covia (NASDAQ:CVIA)

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