Covetrus, Inc. (NASDAQ:CVET) has a beta value of 0 and has seen 511,140 shares traded in the last trading session. The company, currently valued at $2.52 Billion, closed the last trade at $22.29 per share which meant it lost -$0.62 on the day or -2.71% during that session. The CVET stock price is -13.1% off its 52-week high price of $25.21 and 81.83% above the 52-week low of $4.05. If we look at the company’s 10-day average daily trading volume, we find that it stood at 802.78 Million shares traded. The 3-month trading volume is 1.31 Million shares.
The consensus among analysts is that Covetrus, Inc. (CVET) is a Hold stock at the moment, with a recommendation rating of 2.6. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 3 out of 7 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.16.
Covetrus, Inc. (NASDAQ:CVET) trade information
Despite being -2.71% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Aug 31 when the CVET stock price touched $23.88- or saw a rise of 6.64%. Year-to-date, Covetrus, Inc. shares have moved 68.86%, while the 5-day performance has seen it change -4.13%. Over the past 30 days, the shares of Covetrus, Inc. (NASDAQ:CVET) have changed -1.28%. Short interest in the company has seen 8.82 Million shares shorted with days to cover at 6.73.
Wall Street analysts have a consensus price target for the stock at $19.25, which means that the shares’ value could jump -13.64% from current levels. The projected low price target is $14 while the price target rests at a high of $26. In that case, then, we find that the current price level is +16.64% off the targeted high while a plunge would see the stock lose -37.19% from current levels.
Covetrus, Inc. (CVET) estimates and forecasts
Figures show that Covetrus, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +130.75% over the past 6 months, with this year growth rate of -16.46%, compared to 6.5% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -5.9% and -22.2% for the next quarter. Revenue growth from the last financial year stood is estimated to be +4.9%.
6 analysts offering their estimates for the company have set an average revenue estimate of $1.05 Billion for the current quarter. 6 have an estimated revenue figure of $1.03 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $963.77 Million and $1.01 Billion respectively for this quarter and the next, and analysts expect sales will grow by 8.4% for the current quarter and 2.5% for the next.
Earnings growth for 2020 is a modest -6.5%.
Covetrus, Inc. (NASDAQ:CVET)’s Major holders
Insiders own 1.21% of the company shares, while shares held by institutions stand at 101.13% with a share float percentage of 102.37%. Investors are also buoyed by the number of investors in a company, with Covetrus, Inc. having a total of 354 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 14.74 Million shares worth more than $263.75 Million. As of June 29, 2020, Blackrock Inc. held 13.07% of shares outstanding.
The other major institutional holder is Morgan Stanley, with the holding of over 11.87 Million shares as of June 29, 2020. The firm’s total holdings are worth over $212.36 Million and represent 10.52% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Price (T.Rowe) Mid-Cap Value Fund. As of June 29, 2020, the former fund manager holds about 5.36% shares in the company for having 6052621 shares of worth $108.28 Million while later fund manager owns 4.81 Million shares of worth $86.03 Million as of June 29, 2020, which makes it owner of about 4.26% of company’s outstanding stock.