Covia (CVIA) Raised to Hold at Zacks Investment Research

Covia (NASDAQ:CVIA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

Other research analysts have also issued research reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $18.00 price objective on shares of Covia in a report on Wednesday, August 15th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $17.50 target price on shares of Covia in a research note on Friday, August 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Covia in a research note on Friday, August 17th. KeyCorp reaffirmed a “buy” rating and issued a $21.00 target price on shares of Covia in a research note on Thursday, August 16th. Finally, Cowen reaffirmed a “buy” rating and issued a $19.00 target price on shares of Covia in a research note on Thursday, August 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Shares of NASDAQ CVIA traded down $0.25 during midday trading on Thursday, hitting $5.49. 605,400 shares of the company’s stock were exchanged, compared to its average volume of 619,733. Covia has a 12-month low of $4.59 and a 12-month high of $30.00.

Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ 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 firm’s revenue for the quarter was up 50.5% on a year-over-year basis.

In other news, Director William E. Conway bought 20,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $6.98 per share, with a total value of $139,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of institutional investors and hedge funds have recently modified their holdings of CVIA. Swiss National Bank bought a new stake in Covia in the second quarter valued at approximately $1,014,000. Citadel Advisors LLC bought a new stake in Covia in the second quarter valued at approximately $193,000. BlackRock Inc. bought a new stake in Covia in the second quarter valued at approximately $39,270,000. American Securities LLC bought a new stake in Covia in the second quarter valued at approximately $167,701,000. Finally, Skylands Capital LLC bought a new stake in Covia in the third quarter valued at approximately $2,419,000.

Covia Company Profile

There is no company description available for Covia Holdings Corp.

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