Civeo (NYSE:CVEO) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Civeo (NYSE:CVEO) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Civeo Corporation is a provider of long-term and temporary remote site accommodations, logistics and facility management services. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States. Civeo Corporation is headquartered in Houston, Texas. “

Separately, Stifel Nicolaus set a $4.00 price target on shares of Civeo and gave the company a buy rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $3.67.

Shares of NYSE:CVEO traded up $0.03 during trading hours on Thursday, hitting $1.61. The stock had a trading volume of 131,800 shares, compared to its average volume of 339,157. The firm has a fifty day moving average price of $1.59. Civeo has a 1-year low of $1.12 and a 1-year high of $4.43. The firm has a market capitalization of $279.73 million, a price-to-earnings ratio of -2.44 and a beta of 4.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.41 and a quick ratio of 1.09.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Monday, July 29th. The business services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Civeo had a negative net margin of 12.64% and a negative return on equity of 11.21%. The company had revenue of $122.15 million for the quarter, compared to analyst estimates of $117.40 million. On average, sell-side analysts anticipate that Civeo will post -0.23 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Moors & Cabot Inc. increased its stake in shares of Civeo by 2.9% during the first quarter. Moors & Cabot Inc. now owns 325,550 shares of the business services provider’s stock valued at $677,000 after acquiring an additional 9,200 shares during the period. Measured Wealth Private Client Group LLC increased its stake in shares of Civeo by 66.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 22,981 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 9,202 shares during the period. Freestone Capital Holdings LLC increased its stake in shares of Civeo by 6.2% during the first quarter. Freestone Capital Holdings LLC now owns 172,377 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 10,048 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Civeo during the first quarter worth approximately $25,000. Finally, Great West Life Assurance Co. Can bought a new stake in Civeo during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 67.45% of the company’s stock.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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