Civeo (NYSE:CVEO) Given New $31.00 Price Target at Stifel Nicolaus

Civeo (NYSE:CVEO) had its target price increased by equities research analysts at Stifel Nicolaus from $30.00 to $31.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 34.37% from the company’s previous close.

Civeo Price Performance

Shares of CVEO opened at $23.07 on Tuesday. The firm has a market cap of $338.21 million, a PE ratio of 10.93 and a beta of 2.17. The firm’s 50 day moving average price is $25.12 and its 200 day moving average price is $23.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82. Civeo has a twelve month low of $17.98 and a twelve month high of $28.00.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.33. The firm had revenue of $170.80 million for the quarter, compared to analyst estimates of $151.12 million. Civeo had a net margin of 4.49% and a return on equity of 3.53%. As a group, research analysts expect that Civeo will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Civeo

A number of institutional investors have recently modified their holdings of CVEO. Brown Advisory Inc. raised its position in shares of Civeo by 21.3% in the third quarter. Brown Advisory Inc. now owns 315,719 shares of the business services provider’s stock valued at $6,545,000 after purchasing an additional 55,534 shares during the period. Boston Partners grew its stake in shares of Civeo by 62.0% in the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after acquiring an additional 52,168 shares during the last quarter. FMR LLC grew its stake in shares of Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after acquiring an additional 51,400 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Civeo by 10.2% in the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after acquiring an additional 41,300 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Civeo in the fourth quarter worth $698,000. Institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.