Stifel Nicolaus Initiates Coverage on Covetrus (CVET)

Equities researchers at Stifel Nicolaus started coverage on shares of Covetrus (NASDAQ:CVET) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently issued reports on the stock. Cleveland Research assumed coverage on shares of Covetrus in a report on Friday, May 10th. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Covetrus from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Credit Suisse Group assumed coverage on shares of Covetrus in a report on Thursday, April 4th. They set a “neutral” rating and a $35.00 price target on the stock. Svb Leerink reaffirmed an “outperform” rating on shares of Covetrus in a report on Wednesday, March 20th. Finally, Raymond James assumed coverage on shares of Covetrus in a report on Wednesday, February 27th. They set an “outperform” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.00.

NASDAQ:CVET traded down $0.70 on Wednesday, reaching $27.35. 1,233,666 shares of the stock traded hands, compared to its average volume of 1,542,825. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.91 and a current ratio of 1.82. Covetrus has a 12 month low of $27.02 and a 12 month high of $43.83.

Covetrus (NASDAQ:CVET) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $993.41 million. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. On average, research analysts forecast that Covetrus will post 0.68 earnings per share for the current fiscal year.

In other news, insider Timothy Ludlow sold 81,498 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $28.01, for a total transaction of $2,282,758.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Betsy S. Atkins sold 150,845 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $27.80, for a total transaction of $4,193,491.00. The disclosure for this sale can be found here.

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 company was founded on April 13, 2018 and is headquartered in Melville, NY.

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Analyst Recommendations for Covetrus (NASDAQ:CVET)

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