CVS Group's (CVSG) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank reiterated its buy rating on CVS Group and set a GBX 2,000 price target, implying about 59% upside from the current share price.
• Jefferies was more cautious, downgrading CVS Group to hold and cutting its target price to GBX 1,350. Overall, the stock still carries a Moderate Buy consensus from analysts.
• CVS Group’s shares were down 3.4% and opened at GBX 1,258; the company also recently announced a share buyback program, and an insider bought shares in May.

CVS Group (LON:CVSG - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Berenberg Bank in a research note issued on Thursday,Digital Look reports. They presently have a GBX 2,000 target price on the stock. Berenberg Bank's price target points to a potential upside of 58.98% from the stock's current price.

Separately, Jefferies Financial Group downgraded shares of CVS Group to a "hold" rating and lowered their target price for the stock from GBX 1,420 to GBX 1,350 in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, CVS Group presently has an average rating of "Moderate Buy" and an average target price of GBX 1,710.

CVS Group Stock Down 3.4%

CVS Group stock opened at GBX 1,258 on Thursday. The firm has a market cap of £870.54 million, a price-to-earnings ratio of 18.26, a PEG ratio of 1.77 and a beta of 1.06. CVS Group has a 52-week low of GBX 1,062 and a 52-week high of GBX 1,648. The company has a debt-to-equity ratio of 92.34, a quick ratio of 0.90 and a current ratio of 1.07. The firm has a 50 day moving average price of GBX 1,222.10 and a two-hundred day moving average price of GBX 1,247.87.

CVS Group announced that its Board of Directors has authorized a share buyback program on Tuesday, May 26th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at CVS Group

In other CVS Group news, insider Scott Morrison purchased 987 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of GBX 1,270 per share, for a total transaction of £12,534.90. Company insiders own 1.43% of the company's stock.

CVS Group Company Profile

CVS Group is a leading provider of veterinary services, operating in the UK and Australia, listed on the Main Market of the London Stock Exchange. CVS is focused on providing high-quality clinical services to its clients and their animals, with outstanding and dedicated clinical teams and support colleagues at the core of its strategy. The Group operates from over 475 veterinary practices across its two territories, including specialist referral hospitals and dedicated out-of-hours sites. Alongside the core Veterinary Practices division, CVS operates Laboratories (providing diagnostic services to CVS and third-parties) and an online retail business ("Animed Direct"). The Group employs c.8,900 personnel, including c.2,400 veterinary surgeons and c.3,300 nurses.

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