Civeo Corporation (NYSE:CVEO) Stock Rated “Moderate Buy” by Sell-Side Analysts

Civeo Corporation (NYSE:CVEO) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $42.25.

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 31st. Northland Securities started coverage on Civeo in a research report on Thursday, October 1st. They issued an “outperform” rating and a $42.00 target price for the company. Roth Capital initiated coverage on shares of Civeo in a research note on Thursday, October 1st. They set a “buy” rating and a $39.00 price target on the stock. Finally, Raymond James Financial cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 1st.

Civeo Stock Down 0.6%

Civeo stock opened at $27.80 on Monday. Civeo has a fifty-two week low of $20.59 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.81 and a current ratio of 1.89. The firm has a 50 day moving average price of $32.56 and a 200 day moving average price of $32.59. The company has a market capitalization of $287.40 million, a PE ratio of -23.76 and a beta of 0.71.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. The company had revenue of $180.02 million for the quarter, compared to analysts’ expectations of $172.18 million. Research analysts expect that Civeo will post -1.00 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

Several large investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp purchased a new position in Civeo in the 1st quarter valued at approximately $217,000. Engineers Gate Manager LP purchased a new stake in shares of Civeo during the second quarter worth $217,000. Bank of New York Mellon Corp purchased a new stake in shares of Civeo during the second quarter worth $1,032,000. Ritholtz Wealth Management increased its position in shares of Civeo by 9.4% during the first quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock worth $1,068,000 after acquiring an additional 3,470 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after acquiring an additional 36,487 shares in the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo’s services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.