Covetrus (NASDAQ:CVET) Price Target Cut to $21.00

Covetrus (NASDAQ:CVET) had its target price cut by Raymond James from $45.00 to $21.00 in a research report released on Thursday morning, reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Covetrus from a buy rating to a hold rating in a report on Tuesday, August 13th. Stifel Nicolaus dropped their target price on Covetrus from $30.00 to $18.00 and set a hold rating on the stock in a report on Wednesday, August 14th. Guggenheim started coverage on Covetrus in a report on Thursday, May 23rd. They issued a neutral rating on the stock. Zacks Investment Research downgraded Covetrus from a buy rating to a hold rating in a report on Wednesday, July 17th. Finally, Cleveland Research started coverage on Covetrus in a report on Friday, May 10th. They issued a hold rating on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $25.75.

Shares of CVET opened at $14.85 on Thursday. Covetrus has a fifty-two week low of $12.22 and a fifty-two week high of $43.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.74. The firm has a 50-day simple moving average of $23.40.

Covetrus (NASDAQ:CVET) last issued its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.05 billion. On average, sell-side analysts expect that Covetrus will post 0.4 EPS for the current fiscal year.

About Covetrus

Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.

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Analyst Recommendations for Covetrus (NASDAQ:CVET)

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