Covetrus (NASDAQ:CVET) Given New $18.00 Price Target at Stifel Nicolaus

Covetrus (NASDAQ:CVET) had its price objective cut by Stifel Nicolaus from $30.00 to $18.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on CVET. Cleveland Research began coverage on shares of Covetrus in a report on Friday, May 10th. They issued a hold rating on the stock. ValuEngine cut shares of Covetrus from a buy rating to a hold rating in a report on Tuesday, August 13th. Guggenheim began coverage on shares of Covetrus in a report on Thursday, May 23rd. They issued a neutral rating on the stock. Finally, Zacks Investment Research cut shares of Covetrus from a buy rating to a hold rating in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $25.75.

Covetrus stock opened at $14.85 on Wednesday. Covetrus has a fifty-two week low of $12.22 and a fifty-two week high of $43.83. The stock has a fifty day moving average price of $23.40. The company has a current ratio of 1.74, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Covetrus (NASDAQ:CVET) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.05 billion. As a group, sell-side analysts anticipate that Covetrus will post 0.47 earnings per share 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 company was founded on April 13, 2018 and is headquartered in Melville, NY.

See Also: What defines an oversold asset?

The Fly

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.