Covetrus Inc. [NASDAQ: CVET] loss -7.98% or -2.19 points to close at $25.24 with a heavy trading volume of 1820254 shares. The company report on June 6, 2021 that Covetrus Integrates Prescription and Practice Management Technologies.
Digital scripts drive health, growth and wellness for busy veterinary clinics.
Covetrus® (NASDAQ: CVET), a global leader in animal-health technology and services, announced an enhancement to their leading practice management software to help ’s veterinary clinics compete online and deliver more complete healthcare.
It opened the trading session at $26.92, the shares rose to $27.50 and dropped to $25.15, the range by which the price of stock traded the whole day. The daily chart for CVET points out that the company has recorded -11.28% loss over the past six months. However, it is still -48.73% lower than its most recent low trading price.
If we look at the average trading volume of 665.57K shares, CVET reached to a volume of 1820254 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 $34.60 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 2.30. 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.
Barclays have made an estimate for Covetrus Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 17, 2021. While these analysts kept the previous recommendation, Stifel raised their target price from $23 to $26. The new note on the price target was released on September 16, 2020, representing the official price target for Covetrus Inc. stock. Previously, the target price had yet another raise to $11, while Goldman analysts kept a Sell rating on CVET stock.
The Average True Range (ATR) for Covetrus Inc. is set at 1.13, with the Price to Sales ratio for CVET stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 1.42. Price to Free Cash Flow for CVET in the course of the last twelve months was 374.66 with Quick ratio for the last quarter at 1.30.
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 -7.71. With this latest performance, CVET shares dropped by -2.40% in over the last four-week period, additionally sinking by -11.28% over the last 6 months – not to mention a rise of 42.40% 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 35.96, with the RSI for the last a single of trading hit 28.89, and the three-weeks RSI is set at 39.41 for Covetrus Inc. [CVET]. The present Moving Average for the last 50 days of trading for this stock 27.95, while it was recorded at 27.11 for the last single week of trading, and 28.93 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 -0.97 and a Gross Margin at +14.70. Covetrus Inc.’s Net Margin is presently recorded at -0.44.
Return on Total Capital for CVET is now -1.58, given the latest momentum, and Return on Invested Capital for the company is -0.74. Return on Equity for this stock declined to -1.36, with Return on Assets sitting at -0.55. When it comes to the capital structure of this company, Covetrus Inc. [CVET] has a Total Debt to Total Equity ratio set at 77.94. Additionally, CVET Total Debt to Total Capital is recorded at 43.80, with Total Debt to Total Assets ending up at 34.27. Long-Term Debt to Equity for the company is recorded at 76.45, with the Long-Term Debt to Total Capital now at 42.96.
Reflecting on the efficiency of the workforce at the company, Covetrus Inc. [CVET] managed to generate an average of -$3,359 per employee. Receivables Turnover for the company is 8.13 with a Total Asset Turnover recorded at a value of 1.27.Covetrus Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.10.
Covetrus Inc. [CVET]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Covetrus Inc. posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 237.50%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Covetrus Inc. go to 11.55%.
An analysis of insider ownership at Covetrus Inc. [CVET]
There are presently around $3,301 million, or 98.30% of CVET stock, in the hands of institutional investors. The top three institutional holders of CVET stocks are: CLAYTON, DUBILIER & RICE, LLC with ownership of 33,676,829, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 16,893,323 shares of the stock with an approximate value of $426.39 million in CVET stocks shares; and MORGAN STANLEY, currently with $282.03 million in CVET stock with ownership of nearly 1.592% 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 101 institutional holders increased their position in Covetrus Inc. [NASDAQ:CVET] by around 7,015,523 shares. Additionally, 142 investors decreased positions by around 7,238,466 shares, while 67 investors held positions by with 116,514,362 shares. The mentioned changes placed institutional holdings at 130,768,351 shares, according to the latest SEC report filing. CVET stock had 35 new institutional investments in for a total of 1,436,139 shares, while 39 institutional investors sold positions of 1,319,413 shares during the same period.