Brokerages Set Celadon Group Inc. (CGI) Price Target at $25.22
Celadon Group Inc. (NYSE:CGI) has been assigned an average rating of “Buy” from the sixteen ratings firms that are presently covering the stock. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.22.
A number of research firms have weighed in on CGI. Zacks Investment Research downgraded Celadon Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Celadon Group in a report on Wednesday, June 22nd. KeyCorp reiterated a “buy” rating and set a $11.00 target price on shares of Celadon Group in a report on Monday, September 26th. Avondale Partners upgraded Celadon Group from a “market perform” rating to an “outperform” rating and set a $11.30 target price on the stock in a report on Wednesday, August 31st. Finally, Stifel Nicolaus downgraded Celadon Group from a “buy” rating to a “hold” rating in a report on Friday, June 24th.
Shares of Celadon Group (NYSE:CGI) opened at 7.06 on Thursday. The company has a market capitalization of $194.95 million, a price-to-earnings ratio of 8.02 and a beta of 1.50. Celadon Group has a one year low of $6.19 and a one year high of $16.59. The company’s 50-day moving average price is $8.28 and its 200-day moving average price is $8.87.
Celadon Group (NYSE:CGI) last posted its 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 return on equity of 6.63% and a net margin of 2.33%. On average, equities research analysts predict that Celadon Group will post $0.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.08 annualized dividend and a yield of 1.13%. Celadon Group’s dividend payout ratio is 8.89%.
Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Celadon Group by 13.3% in the first quarter. Wellington Management Group LLP now owns 2,476,302 shares of the company’s stock valued at $25,951,000 after buying an additional 291,369 shares in the last quarter. Prudential Financial Inc. boosted its position in Celadon Group by 35.6% in the first quarter. Prudential Financial Inc. now owns 87,251 shares of the company’s stock valued at $914,000 after buying an additional 22,900 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in Celadon Group by 52.4% in the first quarter. Kennedy Capital Management Inc. now owns 151,983 shares of the company’s stock valued at $1,593,000 after buying an additional 52,279 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Celadon Group by 14.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,721,300 shares of the company’s stock valued at $14,063,000 after buying an additional 220,412 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Celadon Group during the first quarter valued at $1,086,000. Institutional investors and hedge funds own 90.36% of the company’s stock.
About Celadon Group
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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