In last trading session, Covetrus, Inc. (NASDAQ:CVET) saw 1,465,850 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $22.2 trading at $2.55 or 12.98% at ring of the bell on the day assigns it a market valuation of $2.82 Billion. That closing price of CVET’s stock is at a discount of -13.56% from its 52-week high price of $25.21 and is indicating a premium of 81.76% from its 52-week low price of $4.05. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 707.87 Million shares which gives us an average trading volume of 1.24 Million if we extend that period to 3-months.
For Covetrus, Inc. (CVET), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2.6. Splitting up the data highlights that, out of 7 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 3 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.17 in the current quarter.
Covetrus, Inc. (NASDAQ:CVET) trade information
Upright in the green today for gaining 12.98%, in the last five days CVET remained trading in the green while hitting it’s week-highest on Wednesday, Sep 16 when the stock touched $23.13- price level, adding 4.02% to its value on the day. Covetrus, Inc.’s shares saw a change of 68.18% in year-to-date performance and have moved 7.92% in past 5-day. Covetrus, Inc. (NASDAQ:CVET) showed a performance of -2.09% in past 30-days. Number of shares sold short was 8.45 Million shares which calculate 6.81 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $20 to the stock, which implies targetted prices is already lagging behind -9.91% to its current value. Analysts have been projecting $14 as a low price target for the stock while placing it at a high target of $26. It follows that stock’s current price would jump +17.12% in reaching the projected high whereas dropping to the targeted low would mean a loss of -36.94% for stock’s current value.
Covetrus, Inc. (CVET) estimates and forecasts
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.04 Billion for the same. And 6 analysts are in estimates of company making revenue of $1.03 Billion in the next quarter that will end in December 01, 2020. Company posted $963.77 Million and $1.01 Billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 8.4% while estimating it to be 2.5% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -6.5% while estimates for its earnings growth in next 5 years are of 0%
Covetrus, Inc. (NASDAQ:CVET)’s Major holders
Insiders are in possession of 1.21% of company’s total shares while institution are holding 101.13% percent of that, with stock having share float percentage of 102.37%. Investors also watch the number of corporate investors in a company very closely, which is 354 institutions for Covetrus, Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at CVET for having 14.74 Million shares of worth $263.75 Million. And as of June 29, 2020, it was holding 13.07% of the company’s outstanding shares.
The second largest institutional holder is Morgan Stanley, which was holding about 11.87 Million shares on June 29, 2020. The number of shares represents firm’s hold over 10.52% of outstanding shares, having a total worth of $212.36 Million.
On the other hand, iShares Core S&P Smallcap ETF and Price (T.Rowe) Mid-Cap Value Fund are the top two Mutual Funds which own company’s shares. As of June 29, 2020, the former fund manager was holding 6052621 shares of worth $108.28 Million or 5.36% of the total outstanding shares. The later fund manager was in possession of 4.81 Million shares on June 29, 2020, making its stake of worth around $86.03 Million in the company or a holder of 4.26% of company’s stock.