Covetrus, Inc. (NASDAQ:CVET) Given Consensus Rating of “Hold” by Analysts

Shares of Covetrus, Inc. (NASDAQ:CVETGet Rating) have been given an average recommendation of “Hold” by the ten brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.40.

A number of analysts have weighed in on CVET shares. Zacks Investment Research raised shares of Covetrus from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Stifel Nicolaus reissued a “buy” rating on shares of Covetrus in a report on Friday, May 20th. Morgan Stanley increased their price target on shares of Covetrus from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 23rd. William Blair downgraded shares of Covetrus from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 25th. Finally, Barclays downgraded shares of Covetrus from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $21.00 in a report on Thursday, May 26th.

Several large investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its holdings in shares of Covetrus by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 14,890 shares of the company’s stock worth $250,000 after acquiring an additional 772 shares during the period. Eaton Vance Management lifted its holdings in Covetrus by 4.8% during the 4th quarter. Eaton Vance Management now owns 19,456 shares of the company’s stock valued at $294,000 after purchasing an additional 899 shares during the last quarter. Profund Advisors LLC lifted its holdings in Covetrus by 10.0% during the 4th quarter. Profund Advisors LLC now owns 12,942 shares of the company’s stock valued at $258,000 after purchasing an additional 1,175 shares during the last quarter. Parallax Volatility Advisers L.P. lifted its holdings in Covetrus by 4.3% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 31,673 shares of the company’s stock valued at $633,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Covetrus by 6.9% during the 1st quarter. Teacher Retirement System of Texas now owns 21,397 shares of the company’s stock valued at $359,000 after purchasing an additional 1,385 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

NASDAQ:CVET opened at $20.71 on Monday. Covetrus has a 1 year low of $13.39 and a 1 year high of $29.01. The firm’s fifty day simple moving average is $16.72 and its 200 day simple moving average is $17.42. The company has a current ratio of 1.86, a quick ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.89 billion, a PE ratio of -69.03 and a beta of 1.92.

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

Covetrus Company Profile (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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