Civeo (CVEO) PT Set at $4.00 by Craig Hallum

Craig Hallum set a $4.00 price target on Civeo (NYSE:CVEO) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the business services provider’s stock.

Several other research firms also recently commented on CVEO. Royal Bank of Canada restated a hold rating and issued a $4.50 price target on shares of Civeo in a research note on Wednesday, July 25th. Stifel Nicolaus set a $5.00 price target on shares of Civeo and gave the company a buy rating in a research note on Friday, September 28th. ValuEngine upgraded shares of Civeo from a hold rating to a buy rating in a research note on Thursday, September 27th. Finally, TheStreet upgraded shares of Civeo from a d+ rating to a c- rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Civeo has an average rating of Buy and a consensus price target of $4.50.

Shares of CVEO traded down $0.33 during trading hours on Wednesday, hitting $2.52. The company had a trading volume of 9,367 shares, compared to its average volume of 423,921. The firm has a market capitalization of $455.17 million, a PE ratio of -4.41 and a beta of 4.18. Civeo has a 12 month low of $1.87 and a 12 month high of $4.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.50.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Civeo had a negative net margin of 29.08% and a negative return on equity of 21.58%. The business had revenue of $120.49 million during the quarter, compared to analyst estimates of $124.30 million. Analysts predict that Civeo will post -0.22 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CVEO. Dimensional Fund Advisors LP grew its stake in Civeo by 33.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,179,266 shares of the business services provider’s stock worth $15,756,000 after buying an additional 1,037,847 shares in the last quarter. UBS Group AG grew its stake in Civeo by 109.4% during the first quarter. UBS Group AG now owns 42,890 shares of the business services provider’s stock worth $162,000 after buying an additional 22,412 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Civeo during the first quarter worth about $343,000. Cubist Systematic Strategies LLC grew its stake in Civeo by 51.8% during the first quarter. Cubist Systematic Strategies LLC now owns 82,912 shares of the business services provider’s stock worth $313,000 after buying an additional 28,304 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Civeo by 79.6% during the first quarter. Millennium Management LLC now owns 1,674,067 shares of the business services provider’s stock worth $6,311,000 after buying an additional 742,190 shares in the last quarter. Institutional investors and hedge funds own 65.71% of the company’s stock.

Civeo Company Profile

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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