Covetrus, Inc. (NASDAQ:CVET) has a beta value of 0 and has seen 692,018 shares traded in the last trading session. The company, currently valued at $3.34 Billion, closed the last trade at $26.22 per share which meant it lost -$0.33 on the day or -1.24% during that session. The CVET stock price is -14.91% off its 52-week high price of $30.13 and 84.55% 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 984.8 Million shares traded. The 3-month trading volume is 949.5 Million shares.
The consensus among analysts is that Covetrus, Inc. (CVET) is an Overweight stock at the moment, with a recommendation rating of 2.4. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 7 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.15.
Covetrus, Inc. (NASDAQ:CVET) trade information
Despite being -1.24% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the CVET stock price touched $27.27- or saw a rise of 3.85%. Year-to-date, Covetrus, Inc. shares have moved 98.64%, while the 5-day performance has seen it change 3.97%. Over the past 30 days, the shares of Covetrus, Inc. (NASDAQ:CVET) have changed -3.78%. Short interest in the company has seen 6.05 Million shares shorted with days to cover at 0.01.
Wall Street analysts have a consensus price target for the stock at $24.75, which means that the shares’ value could jump -5.61% from current levels. The projected low price target is $18 while the price target rests at a high of $31. In that case, then, we find that the current price level is +18.23% off the targeted high while a plunge would see the stock lose -31.35% 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 +72.73% over the past 6 months, with this year growth rate of 7.59%, compared to 9.7% 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 -16.7% and -5.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be +7%.
6 analysts offering their estimates for the company have set an average revenue estimate of $1.04 Billion for the current quarter. 6 have an estimated revenue figure of $1.08 Billion for the next quarter concluding in March 01, 2021. Year-ago sales stood $1.01 Billion and $1.06 Billion respectively for this quarter and the next, and analysts expect sales will grow by 3.6% for the current quarter and 1.7% for the next.
Earnings growth for 2020 is a modest +3.9%.
Covetrus, Inc. (NASDAQ:CVET)’s Major holders
Insiders own 1.09% of the company shares, while shares held by institutions stand at 96.96% with a share float percentage of 98.04%. Investors are also buoyed by the number of investors in a company, with Covetrus, Inc. having a total of 370 institutions that hold shares in the company. The top two institutional holders are Clayton, Dubilier & Rice, LLC with over 25.43 Million shares worth more than $620.5 Million. As of September 29, 2020, Clayton, Dubilier & Rice, LLC held 19.94% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 14.54 Million shares as of September 29, 2020. The firm’s total holdings are worth over $354.69 Million and represent 11.4% 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 September 29, 2020, the former fund manager holds about 4.78% shares in the company for having 6092485 shares of worth $148.66 Million while later fund manager owns 4.49 Million shares of worth $109.6 Million as of September 29, 2020, which makes it owner of about 3.52% of company’s outstanding stock.