Celadon Group Rating Lowered to Hold at Stifel Nicolaus (CGI)
Celadon Group (NYSE:CGI) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $19.00 target price on the stock, down from their previous target price of $22.00. Stifel Nicolaus’ price objective would suggest a potential downside of 5.14% from the stock’s previous close.
The analysts wrote, “From conversations with management over the past quarter, along with 4Q13 weather events, continued low single digit dry van truckload price increases, lackluster truckload freight volume demand, slow but continued ramp in Celadon driver school graduates, and acquisition integrations, et cetera, we believe that our estimates are too high,” the report noted. “As such, we are decreasing our EPS estimates for FY2014, FY2015, and FY2016 from $1.11, $1.36, and $1.64 to $1.00, $1.15, and $1.35. Our CY2013, CY2014, and CY2015 estimates decline from $1.03, $1.23, and $1.50 to $0.99, $1.10, and $1.25, respectively.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Celadon Group from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, December 23rd. They now have a $19.90 price target on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Celadon Group in a research note to investors on Tuesday, November 19th. They now have a $23.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Celadon Group from $23.00 to $21.00 in a research note to investors on Wednesday, October 30th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.11.
Celadon Group (NYSE:CGI) traded up 0.75% on Tuesday, hitting $20.03. The stock had a trading volume of 81,373 shares. Celadon Group has a 1-year low of $16.29 and a 1-year high of $21.99. The stock’s 50-day moving average is $19.91 and its 200-day moving average is $19.04. The company has a market cap of $459.4 million and a price-to-earnings ratio of 18.22.
Celadon Group (NYSE:CGI) last released its earnings data on Monday, October 28th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.05. The company had revenue of $175.10 million for the quarter, compared to the consensus estimate of $163.60 million. During the same quarter last year, the company posted $0.36 earnings per share. Celadon Group’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Celadon Group will post $1.16 earnings per share for the current fiscal year.
Celadon Group, Inc (NYSE:CGI) is engaged in the business of truckload carriers.
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