MWI Veterinary Supply Rating Reiterated by Zacks (MWIV)
MWI Veterinary Supply (NASDAQ:MWIV)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday. They currently have a $151.00 price target on the stock. Zacks‘s price target points to a potential upside of 5.06% from the stock’s previous close.
Zacks’ analyst wrote, “MWI Vet recorded EPS of $1.52 in the third quarter of fiscal 2014, up 15.2% year over year and ahead of the Zacks Consensus Estimate by 1.3%. Revenues surged 28.4% to $778.4 million, exceeding the Zacks Consensus Estimate of $762 million. The company posted healthy growth in the quarter on strong 30.4% growth in the U.S. revenues which was benefited from the acquisition of IVESCO and organic revenue growth. Considering the positive momentum over the past few quarters and the addition of IVESCO, the company has upgraded its strong guidance for fiscal 2014. Notably, MWI Vet has the strength to deliver consistent growth performance amid a low-growth environment. Moreover, its strategy of selective acquisition should keep the momentum going over the long haul. However, product recall and vendor dependency is a cause of concern. Currency headwinds also remain an overhang. Accordingly, we remain Neutral on the stock.”
Shares of MWI Veterinary Supply (NASDAQ:MWIV) traded up 1.04% during mid-day trading on Thursday, hitting $145.23. 9,067 shares of the company’s stock traded hands. MWI Veterinary Supply has a 52 week low of $129.75 and a 52 week high of $188.40. The stock has a 50-day moving average of $143.0 and a 200-day moving average of $151.6. The company has a market cap of $1.867 billion and a price-to-earnings ratio of 26.61.
MWI Veterinary Supply (NASDAQ:MWIV) last released its earnings data on Thursday, July 31st. The company reported $1.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.51 by $0.01. The company had revenue of $778.40 million for the quarter, compared to the consensus estimate of $762.40 million. During the same quarter last year, the company posted $1.32 earnings per share. MWI Veterinary Supply’s revenue was up 28.4% compared to the same quarter last year. Analysts expect that MWI Veterinary Supply will post $5.62 EPS for the current fiscal year.
Separately, analysts at Piper Jaffray cut their price target on shares of MWI Veterinary Supply from $175.00 to $166.00 in a research note on Friday, August 1st.
MWI Veterinary Supply, Inc (NASDAQ:MWIV) is a distributor animal health products to veterinarians across the United States and United Kingdom.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.