Stifel Nicolaus Lowers Civeo (NYSE:CVEO) Price Target to $27.00

Civeo (NYSE:CVEO) had its price target cut by analysts at Stifel Nicolaus from $28.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ price objective points to a potential upside of 42.11% from the stock’s current price.

Separately, StockNews.com raised Civeo from a “hold” rating to a “buy” rating in a research report on Thursday.

Civeo Trading Up 1.7 %

NYSE CVEO opened at $19.00 on Friday. The company has a market cap of $257.43 million, a P/E ratio of 13.57 and a beta of 1.29. Civeo has a 12 month low of $18.01 and a 12 month high of $28.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The company has a 50-day moving average of $21.10 and a 200-day moving average of $23.21.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.06. Civeo had a net margin of 3.00% and a return on equity of 0.11%. The firm had revenue of $144.04 million during the quarter, compared to analyst estimates of $150.86 million. As a group, equities analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

Several institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in shares of Civeo during the 4th quarter valued at about $386,000. Man Group plc raised its stake in shares of Civeo by 108.0% during the fourth quarter. Man Group plc now owns 71,597 shares of the business services provider’s stock valued at $1,627,000 after purchasing an additional 37,173 shares during the period. Meros Investment Management LP raised its stake in shares of Civeo by 28.9% during the fourth quarter. Meros Investment Management LP now owns 109,761 shares of the business services provider’s stock valued at $2,494,000 after purchasing an additional 24,637 shares during the period. Millennium Management LLC lifted its position in shares of Civeo by 18.2% during the fourth quarter. Millennium Management LLC now owns 80,055 shares of the business services provider’s stock worth $1,819,000 after purchasing an additional 12,299 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Civeo by 24.0% in the fourth quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 4,158 shares during the period. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.