Civeo (NYSE:CVEO) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Civeo (NYSE:CVEO) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently issued reports on CVEO. Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research note on Wednesday. Wall Street Zen upgraded shares of Civeo from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.00.

Civeo Trading Up 0.9%

Civeo stock traded up $0.20 during mid-day trading on Thursday, hitting $21.68. 35,652 shares of the company’s stock were exchanged, compared to its average volume of 86,947. The company’s 50 day simple moving average is $22.12 and its 200-day simple moving average is $22.56. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $249.59 million, a P/E ratio of -8.92 and a beta of 1.22. Civeo has a fifty-two week low of $18.01 and a fifty-two week high of $27.55.

Civeo (NYSE:CVEO) last posted its earnings results on Friday, October 31st. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.24). Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The business had revenue of $170.49 million during the quarter, compared to analyst estimates of $177.04 million. Civeo has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Civeo will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engine Capital Management LP acquired a new stake in shares of Civeo in the 1st quarter valued at approximately $30,777,000. Charles Schwab Investment Management Inc. bought a new stake in Civeo during the first quarter worth $1,070,000. TCW Group Inc. lifted its stake in Civeo by 2.0% in the first quarter. TCW Group Inc. now owns 795,845 shares of the business services provider’s stock valued at $18,304,000 after acquiring an additional 15,628 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Civeo in the 1st quarter valued at about $204,000. Finally, Clough Capital Partners L P bought a new position in shares of Civeo in the 1st quarter valued at about $728,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

About Civeo

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.