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

Covetrus, Inc. (NASDAQ:CVET) has received a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $32.33.

Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Covetrus from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, June 28th. Guggenheim upgraded Covetrus from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, July 12th.

In related news, CEO Benjamin Wolin sold 2,778 shares of the business’s stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $26.24, for a total value of $72,894.72. Following the sale, the chief executive officer now owns 62,596 shares in the company, valued at approximately $1,642,519.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dustin Finer sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $30.43, for a total value of $45,645.00. Following the completion of the sale, the insider now owns 13,471 shares in the company, valued at approximately $409,922.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,988 shares of company stock worth $1,713,614. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CVET. Rockefeller Capital Management L.P. increased its holdings in Covetrus by 7,326.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,114 shares of the company’s stock worth $33,000 after purchasing an additional 1,099 shares during the period. Peconic Partners LLC purchased a new stake in Covetrus during the 4th quarter worth about $86,000. Vantage Consulting Group Inc purchased a new stake in Covetrus during the 4th quarter worth about $108,000. First Mercantile Trust Co. purchased a new stake in Covetrus during the 1st quarter worth about $176,000. Finally, Russell Investments Group Ltd. purchased a new stake in Covetrus during the 1st quarter worth about $226,000. Institutional investors own 94.72% of the company’s stock.

NASDAQ CVET traded down $0.70 during trading on Friday, hitting $24.54. The company’s stock had a trading volume of 5,040 shares, compared to its average volume of 543,172. The company has a current ratio of 2.09, a quick ratio of 1.27 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $3.35 billion, a P/E ratio of -315.46, a PEG ratio of 1.57 and a beta of 2.05. The firm’s 50 day moving average is $26.61. Covetrus has a fifty-two week low of $18.74 and a fifty-two week high of $40.78.

Covetrus (NASDAQ:CVET) last announced its quarterly earnings data on Thursday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Covetrus had a positive return on equity of 6.38% and a negative net margin of 0.02%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, research analysts forecast that Covetrus will post 0.74 earnings per share for the current fiscal 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.

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Analyst Recommendations for Covetrus (NASDAQ:CVET)

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