Covetrus (NASDAQ:CVET) Price Target Lowered to $18.00 at Stifel Nicolaus

Covetrus (NASDAQ:CVET) had its price objective lowered by equities research analysts at Stifel Nicolaus from $30.00 to $18.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 45.75% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Covetrus from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. ValuEngine lowered shares of Covetrus from a “buy” rating to a “hold” rating in a report on Tuesday. Guggenheim started coverage on shares of Covetrus in a report on Thursday, May 23rd. They set a “neutral” rating on the stock. Finally, Cleveland Research started coverage on shares of Covetrus in a report on Friday, May 10th. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Covetrus currently has a consensus rating of “Hold” and a consensus price target of $31.75.

NASDAQ:CVET traded down $1.54 on Wednesday, reaching $12.35. The stock had a trading volume of 4,481,900 shares, compared to its average volume of 1,578,090. The company has a current ratio of 1.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $23.76. Covetrus has a 12-month low of $12.22 and a 12-month high of $43.83.

In related news, Director Betsy S. Atkins sold 150,845 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $27.80, for a total value of $4,193,491.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Ludlow sold 81,498 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $28.01, for a total transaction of $2,282,758.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,028 shares of company stock worth $6,495,656.

Covetrus Company Profile

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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