ValuEngine Downgrades Civeo (CVEO) to Hold

Civeo (NYSE:CVEO) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other research firms also recently weighed in on CVEO. Craig Hallum set a $4.00 price objective on shares of Civeo and gave the stock a “buy” rating in a report on Wednesday, October 31st. TheStreet downgraded shares of Civeo from a “c-” rating to a “d” rating in a report on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Civeo has an average rating of “Buy” and a consensus price target of $4.50.

Shares of NYSE CVEO opened at $2.60 on Monday. The firm has a market cap of $436.72 million, a P/E ratio of -3.94 and a beta of 4.22. Civeo has a 12-month low of $1.12 and a 12-month high of $4.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.46 and a current ratio of 1.53.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC acquired a new position in Civeo during the third quarter worth $53,000. OLD National Bancorp IN raised its holdings in Civeo by 32.9% during the fourth quarter. OLD National Bancorp IN now owns 43,176 shares of the business services provider’s stock worth $62,000 after buying an additional 10,698 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Civeo by 146.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 74,000 shares of the business services provider’s stock worth $106,000 after buying an additional 44,000 shares during the last quarter. AQR Capital Management LLC acquired a new position in Civeo during the third quarter worth $153,000. Finally, BlackRock Inc. raised its holdings in Civeo by 2,735,060.0% during the second quarter. BlackRock Inc. now owns 136,758 shares of the business services provider’s stock worth $597,000 after buying an additional 136,753 shares during the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

About Civeo

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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