Civeo (NYSE:CVEO) Stock Rated “Buy” in New Coverage at Roth Capital

Investment analysts at Roth Capital initiated coverage on shares of Civeo (NYSE:CVEO) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $39.00 price target on the business services provider’s stock. Roth Capital’s target price would indicate a potential upside of 19.83% from the company’s current price.

Several other equities research analysts have also recently weighed in on CVEO. Northland Securities started coverage on Civeo in a report on Thursday. They set an “outperform” rating and a $42.00 target price for the company. Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 31st. Finally, Raymond James Financial cut Civeo from a “strong-buy” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Civeo Trading Down 1.9%

CVEO stock traded down $0.63 during trading on Thursday, hitting $32.55. 61,130 shares of the company traded hands, compared to its average volume of 96,681. The firm has a market capitalization of $336.52 million, a PE ratio of -27.82 and a beta of 0.71. Civeo has a 1 year low of $19.75 and a 1 year high of $36.50. The company has a 50-day moving average of $33.20 and a 200-day moving average of $32.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.81 and a current ratio of 1.89.

Civeo (NYSE:CVEO) last issued its earnings results on Thursday, July 30th. The business services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. The company had revenue of $180.02 million during the quarter, compared to analysts’ expectations of $172.18 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. Analysts predict that Civeo will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Civeo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in Civeo in the 2nd quarter worth approximately $217,000. Bank of New York Mellon Corp purchased a new position in shares of Civeo in the 2nd quarter valued at approximately $1,032,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Civeo in the 1st quarter valued at approximately $217,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Civeo by 12.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock valued at $3,347,000 after purchasing an additional 13,564 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Civeo by 104.2% in the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after purchasing an additional 36,487 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

Civeo Corporation (NYSE: CVEO) provides workforce accommodations and hospitality services for companies operating in remote and resource-intensive locations. Its customers primarily include energy, mining and infrastructure companies that require lodging, dining and related support services for employees and contractors.

The company operates lodges, villages and mobile workforce camps, offering furnished rooms, catering, housekeeping, facility management, maintenance, transportation and other site services.