Covetrus, Inc. (NASDAQ:CVET) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Covetrus, Inc. (NASDAQ:CVETGet Rating) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.20.

A number of research firms have weighed in on CVET. Zacks Investment Research raised Covetrus from a “sell” rating to a “hold” rating in a report on Friday. Barclays decreased their price objective on Covetrus from $38.00 to $26.00 in a report on Monday, May 9th.

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of Covetrus by 3.3% in the 4th quarter. American Century Companies Inc. now owns 460,840 shares of the company’s stock worth $9,203,000 after acquiring an additional 14,518 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Covetrus in the 3rd quarter worth approximately $5,994,000. Aries Wealth Management acquired a new position in shares of Covetrus in the 4th quarter worth approximately $867,000. Strs Ohio boosted its holdings in shares of Covetrus by 3,916.7% in the 4th quarter. Strs Ohio now owns 24,100 shares of the company’s stock worth $481,000 after acquiring an additional 23,500 shares in the last quarter. Finally, Man Group plc raised its position in Covetrus by 3.7% in the 3rd quarter. Man Group plc now owns 172,679 shares of the company’s stock worth $3,132,000 after purchasing an additional 6,089 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

CVET stock traded up $1.53 during trading on Thursday, reaching $18.03. 86,904 shares of the stock were exchanged, compared to its average volume of 972,711. Covetrus has a twelve month low of $13.39 and a twelve month high of $29.01. The company has a market capitalization of $2.51 billion, a P/E ratio of -59.96 and a beta of 1.98. The stock has a 50 day simple moving average of $15.87 and a 200-day simple moving average of $17.31. The company has a current ratio of 1.86, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65.

Covetrus (NASDAQ:CVETGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Covetrus had a positive return on equity of 1.92% and a negative net margin of 0.87%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Covetrus will post 0.83 EPS for the current year.

About Covetrus (Get Rating)

Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.

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Analyst Recommendations for Covetrus (NASDAQ:CVET)

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