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

Shares of Covetrus, Inc. (NASDAQ:CVET) have received a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.60.

Several analysts recently issued reports on the stock. Raymond James cut their target price on shares of Covetrus from $37.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, November 5th. Zacks Investment Research lowered shares of Covetrus from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet lowered shares of Covetrus from a “c-” rating to a “d+” rating in a research report on Friday, December 3rd. Finally, Morgan Stanley assumed coverage on shares of Covetrus in a research report on Thursday, November 18th. They set an “equal weight” rating and a $19.00 target price for the company.

In other Covetrus news, CEO Benjamin Wolin sold 26,320 shares of Covetrus stock in a transaction that occurred on Monday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $526,400.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of CVET. Vanguard Group Inc. lifted its holdings in Covetrus by 9.9% during the second quarter. Vanguard Group Inc. now owns 10,911,920 shares of the company’s stock valued at $294,622,000 after purchasing an additional 982,426 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Covetrus by 19.0% during the second quarter. JPMorgan Chase & Co. now owns 4,626,262 shares of the company’s stock valued at $124,909,000 after purchasing an additional 738,040 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Covetrus by 32.2% during the third quarter. Wellington Management Group LLP now owns 3,026,292 shares of the company’s stock valued at $54,897,000 after purchasing an additional 737,910 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Covetrus by 54.8% in the third quarter. Frontier Capital Management Co. LLC now owns 1,880,749 shares of the company’s stock worth $34,117,000 after buying an additional 666,178 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Covetrus in the third quarter worth $8,096,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVET stock traded down $0.23 during trading hours on Friday, reaching $16.27. The company had a trading volume of 1,332,985 shares, compared to its average volume of 1,098,073. The business has a fifty day moving average price of $18.31 and a 200-day moving average price of $21.09. Covetrus has a one year low of $15.80 and a one year high of $40.78. The firm has a market cap of $2.24 billion, a PE ratio of -39.68 and a beta of 2.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.12 and a current ratio of 1.89.

Covetrus (NASDAQ:CVET) last announced its quarterly earnings results on Thursday, November 4th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Covetrus had a positive return on equity of 0.94% and a negative net margin of 1.20%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. Equities research analysts forecast that Covetrus will post 0.67 EPS for the current year.

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 firm geographically operates through the segments: North America, Europe and Asia Pacific (APAC) & Emerging Markets.

Featured Article: How does a security become overbought?

Analyst Recommendations for Covetrus (NASDAQ:CVET)

Receive News & Ratings for Covetrus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covetrus and related companies with MarketBeat.com's FREE daily email newsletter.