Covetrus Inc. (NASDAQ:CVET) shares, rose in value on Friday, 05/13/22, with the stock price up by 3.04% to the previous day’s close as strong demand from buyers drove the stock to $15.27.
Actively observing the price movement in the last trading, the stock closed the session at $14.82, falling within a range of $14.88 and $15.475. The value of beta (5-year monthly) was 2.09. Referring to stock’s 52-week performance, its high was $29.01, and the low was $13.39. On the whole, CVET has fluctuated by 0.59% over the past month.
With the market capitalization of Covetrus Inc. currently standing at about $1.91 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 28, 2022 – Mar 04, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.25, which is expected to increase to $0.28 for fiscal year $0.94 and then to about $1.05 by fiscal year 2022. Data indicates that the EPS growth is expected to be 2.20% in 2022, while the next year’s EPS growth is forecast to be 11.70%.
Analysts have estimated the company’s revenue for the quarter at $1.14 billion, with a low estimate of $1.12 billion and a high estimate of $1.15 billion. According to the average forecast, sales growth in current quarter could jump up 1.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $4.59 billion, representing an increase of 5.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CVET’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CVET currently trading nearly 2.74% and -4.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.87, while the 7-day volatility ratio is showing 5.63% which for the 30-day chart, stands at 5.87%. Furthermore, Covetrus Inc. (CVET)’s average true range (ATR) is 0.86.
Data on historical trading for Covetrus Inc. (NASDAQ:CVET) indicates that the trading volumes over the past 10 days have averaged 0.92 million and over the past 3 months, they’ve averaged 782.74K. According to company’s latest data on outstanding shares, there are 134.00 million shares outstanding.
Nearly 0.50% of Covetrus Inc.’s shares belong to company insiders and institutional investors own 96.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.31 million shares as on Dec 14, 2021, resulting in a short ratio of 3.08. According to the data, the short interest in Covetrus Inc. (CVET) stood at 2.40% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 3.62 million. The stock has fallen by -23.54% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVET stock heading into the next quarter.