Celadon Group Inc. (CGI) Shares Down 2.8%
Celadon Group Inc. (NYSE:CGI) traded down 2.8% during trading on Tuesday . The company traded as low as $8.25 and last traded at $8.28, with a volume of 103,766 shares changing hands. The stock had previously closed at $8.52.
A number of equities research analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Celadon Group in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Celadon Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Stifel Nicolaus downgraded shares of Celadon Group from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Desjardins raised shares of Celadon Group from a “hold” rating to a “buy” rating in a research report on Friday, May 27th. Finally, Avondale Partners raised shares of Celadon Group from a “market perform” rating to an “outperform” rating and set a $11.30 price objective on the stock in a research report on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Celadon Group has a consensus rating of “Buy” and an average target price of $29.29.
The firm has a market capitalization of $227.81 million, a PE ratio of 9.38 and a beta of 1.67. The firm has a 50 day moving average price of $7.75 and a 200 day moving average price of $9.08.
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Celadon Group (NYSE:CGI) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.13. Celadon Group had a net margin of 2.33% and a return on equity of 6.63%. On average, equities analysts forecast that Celadon Group Inc. will post $0.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.97%. Celadon Group’s dividend payout ratio is currently 8.89%.
Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Celadon Group by 3.1% in the second quarter. Royal Bank of Canada now owns 50,300 shares of the company’s stock worth $410,000 after buying an additional 1,500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Celadon Group by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 91,588 shares of the company’s stock worth $749,000 after buying an additional 1,428 shares in the last quarter. Stifel Financial Corp purchased a new stake in Celadon Group during the second quarter worth about $126,000. Arizona State Retirement System raised its stake in Celadon Group by 0.7% in the second quarter. Arizona State Retirement System now owns 14,349 shares of the company’s stock worth $117,000 after buying an additional 100 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Celadon Group by 15.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 60,984 shares of the company’s stock worth $498,000 after buying an additional 8,344 shares in the last quarter. Institutional investors own 91.96% of the company’s stock.
Celadon Group Company Profile
Celadon Group, Inc (Celadon) provides truckload freight transportation. The Company operates through two segments: asset based and asset light. The asset based segment offers services, such as United States domestic dry van, refrigerated, and flatbed service; cross-border service between the United States and each of Mexico and Canada; intra-Mexico and intra-Canada service; dedicated contract service; regional and specialized short haul service, and rail intermodal service.
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