Covetrus Inc (NASDAQ:CVET) Given Average Recommendation of “Hold” by Analysts

Shares of Covetrus Inc (NASDAQ:CVET) have received a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.20.

CVET has been the topic of several research analyst reports. ValuEngine lowered Covetrus from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Raymond James dropped their target price on shares of Covetrus from $45.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Credit Suisse Group cut their price target on shares of Covetrus from $15.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Goldman Sachs Group assumed coverage on shares of Covetrus in a research report on Monday, September 9th. They set a “sell” rating and a $11.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Covetrus from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday.

Shares of CVET traded up $0.10 during trading hours on Thursday, hitting $13.78. The stock had a trading volume of 1,171,900 shares, compared to its average volume of 1,847,760. Covetrus has a 12-month low of $8.16 and a 12-month high of $43.83. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $11.88 and its 200 day simple moving average is $17.82.

Covetrus (NASDAQ:CVET) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $963.69 million. Covetrus had a positive return on equity of 4.26% and a negative net margin of 23.15%. Covetrus’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Covetrus will post 0.63 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY purchased a new position in Covetrus in the 3rd quarter worth approximately $323,000. Millennium Management LLC purchased a new stake in Covetrus during the 3rd quarter worth $673,000. Man Group plc acquired a new position in Covetrus in the 3rd quarter worth $1,939,000. Voloridge Investment Management LLC acquired a new position in Covetrus in the 3rd quarter worth $2,112,000. Finally, Barclays PLC acquired a new position in Covetrus in the 3rd quarter worth $535,000. Institutional investors own 91.27% of the company’s stock.

Covetrus Company Profile

Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.

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Analyst Recommendations for Covetrus (NASDAQ:CVET)

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