Covetrus, Inc. (NASDAQ:CVET)’s traded shares stood at 562,179 during the last session, with the company’s beta value hitting 0. At the close of trading, the stock’s price was $35.95, to imply a decline of -2.55% or -$0.94 in intraday trading. The CVET share’s 52-week high remains $40.78, putting it -13.44% down since that peak but still an impressive +88.73% since price per share fell to its 52-week low of $4.05. The company has a valuation of $4.88 Billion, with an average of 597.81 Million shares in intraday trading volume over the past 10 days and average of 905.03 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Overweight for Covetrus, Inc. (CVET), translating to a mean rating of 2.4. Of 8 analyst(s) looking at the stock, 1 analyst(s) give CVET a Sell rating. 1 of those analysts rate the stock as Overweight while 2 advise Hold as 4 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.16.
Covetrus, Inc. (NASDAQ:CVET) trade information
After registering a -2.55% downside in the last session, Covetrus, Inc. (CVET) has traded red over the past five days. The stock hit a weekly high of $40.71 this Friday, Feb 12, jumping 11.69% in its intraday price action. The 5-day price performance for the stock is -9.88%, and -1.64% over 30 days. Despite these dips, the year-to-date price performance is 25.09%. Short interest in Covetrus, Inc. (NASDAQ:CVET) saw shorts transact 5.98 Million shares and set a 0.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $31.2, implying a decline of -13.21% to the stock’s current value. The extremes give us $18 and $48 for target low and target high price respectively. As such, CVET has been trading 33.52% off suggested target high and -49.93% from its likely low.
Covetrus, Inc. (CVET) estimates and forecasts
Revenue forecast for the current quarter as set by 6 analysts is $1.05 Billion. Meanwhile, for the quarter ending March 01, 2021, a total of 6 analyst(s) estimate revenue growth to $1.08 Billion. Earnings reports from the last fiscal year show that sales brought in $1.01 Billion and $1.06 Billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 4.6% before jumping 1.2% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated 0% for the past 5-year period. While 2021 is set for a 6.5% return in earnings, projections for the next 5 years are at 0% annually.
Covetrus, Inc. (NASDAQ:CVET)’s Major holders
Covetrus, Inc. insiders hold 1.07% of total outstanding shares, with institutional holders owning 103.75% of the shares at 104.87% float percentage. In total, 367 institutions holds shares in the company, led by Clayton, Dubilier & Rice, LLC. As of Dec 30, 2020, the company held over 33.68 Million shares (or 26.41% of shares), all amounting to roughly $967.87 Million.
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The next major institution holding the largest number of shares is Blackrock Inc. with 15.92 Million shares, or about 12.49% of shares outstanding. As of the market price on Dec 30, 2020, these shares were worth $457.57 Million.