Covetrus (NASDAQ:CVET – Get Rating) had its price objective cut by equities research analysts at Barclays from $38.00 to $26.00 in a research report issued on Monday, The Fly reports. Barclays’s price target indicates a potential upside of 68.28% from the stock’s previous close.
Separately, Zacks Investment Research downgraded Covetrus from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Covetrus presently has an average rating of “Hold” and a consensus price target of $25.17.
NASDAQ:CVET opened at $15.45 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.94 and a quick ratio of 1.10. The business has a fifty day simple moving average of $16.19. Covetrus has a 1-year low of $13.39 and a 1-year high of $30.87. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -51.50 and a beta of 1.98.
Covetrus (NASDAQ:CVET – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Covetrus had a positive return on equity of 1.93% and a negative net margin of 0.87%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. Equities research analysts forecast that Covetrus will post 0.89 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new position in shares of Covetrus in the 4th quarter valued at $47,000. Spire Wealth Management boosted its stake in Covetrus by 208.4% during the fourth quarter. Spire Wealth Management now owns 2,794 shares of the company’s stock worth $56,000 after buying an additional 1,888 shares during the period. People s United Financial Inc. purchased a new stake in shares of Covetrus in the 3rd quarter valued at approximately $183,000. Point72 Hong Kong Ltd increased its holdings in Covetrus by 122.1% in the 3rd quarter. Point72 Hong Kong Ltd now owns 10,165 shares of the company’s stock valued at $184,000 after purchasing an additional 5,588 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Covetrus in the third quarter valued at approximately $187,000. Institutional investors own 93.99% of the company’s stock.
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.