Covetrus Inc. [NASDAQ: CVET] gained 7.36% or 1.14 points to close at $16.62 with a heavy trading volume of 1236998 shares. It opened the trading session at $16.46, the shares rose to $17.40 and dropped to $15.93, the range by which the price of stock traded the whole day. The daily chart for CVET points out that the company has recorded 23.11% gains over the past six months. However, it is still -310.37% lower than its most recent low trading price.
If we look at the average trading volume of 1.78M shares, CVET reached to a volume of 1236998 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Covetrus Inc. [CVET]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVET shares is $12.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVET stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Covetrus Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on September 09, 2019. The new note on the price target was released on May 23, 2019, representing the official price target for Covetrus Inc. stock. Previously, the target price had yet another raise to $35, while Credit Suisse analysts kept a Neutral rating on CVET stock.
The Average True Range (ATR) for Covetrus Inc. is set at 1.33, with the Price to Sales ratio for CVET stock in the period of the last 12 months amounting to 0.42. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 1.97.
Trading performance analysis for CVET stock
Covetrus Inc. [CVET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.53. With this latest performance, CVET shares gained by 52.06% in over the last four-week period, additionally plugging by 23.11% over the last 6 months – not to mention a drop of -34.13% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVET stock in for the last two-week period is set at 57.40, with the RSI for the last a single of trading hit 52.83, and the three-weeks RSI is set at 58.84 for Covetrus Inc. [CVET]. The present Moving Average for the last 50 days of trading for this stock 12.09, while it was recorded at 17.54 for the last single week of trading, and 11.99 for the last 200 days.
Covetrus Inc. [CVET]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Covetrus Inc. [CVET] shares currently have an operating margin of -1.48 and a Gross Margin at +15.12. Covetrus Inc.’s Net Margin is presently recorded at -25.63.
Return on Total Capital for CVET is now -2.84, given the latest momentum, and Return on Invested Capital for the company is -51.40. Return on Equity for this stock declined to -74.12, with Return on Assets sitting at -36.43. When it comes to the capital structure of this company, Covetrus Inc. [CVET] has a Total Debt to Total Equity ratio set at 101.35. Additionally, CVET Total Debt to Total Capital is recorded at 50.34, with Total Debt to Total Assets ending up at 37.88. Long-Term Debt to Equity for the company is recorded at 94.90, with the Long-Term Debt to Total Capital now at 47.13.
Reflecting on the efficiency of the workforce at the company, Covetrus Inc. [CVET] managed to generate an average of -$185,273 per employee. Receivables Turnover for the company is 8.17 with a Total Asset Turnover recorded at a value of 1.42.Covetrus Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.80.
Covetrus Inc. [CVET]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Covetrus Inc. posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVET.
An analysis of insider ownership at Covetrus Inc. [CVET]
There are presently around $1,975 million, in the hands of institutional investors. The top three institutional holders of CVET stocks are: MORGAN STANLEY with ownership of 12,133,420, which is approximately -1.941% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 11,938,991 shares of the stock with an approximate value of $198.43 million in CVET stocks shares; and CLAYTON, DUBILIER & RICE, LLC, currently with $183.93 million in CVET stock with ownership of nearly -1.764% of the company’s market capitalization.
Positions in Covetrus Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 119 institutional holders increased their position in Covetrus Inc. [NASDAQ:CVET] by around 18,270,519 shares. Additionally, 131 investors decreased positions by around 13,864,372 shares, while 57 investors held positions by with 86,725,833 shares. The mentioned changes placed institutional holdings at 118,860,724 shares, according to the latest SEC report filing. CVET stock had 37 new institutional investments in for a total of 3,680,069 shares, while 54 institutional investors sold positions of 7,007,483 shares during the same period.