Stifel Nicolaus Raises Civeo (NYSE:CVEO) Price Target to $31.00

Civeo (NYSE:CVEO - Get Free Report) had its price objective lifted by Stifel Nicolaus from $30.00 to $31.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Stifel Nicolaus' target price suggests a potential upside of 33.22% from the stock's previous close.

Civeo Stock Performance

Shares of Civeo stock traded up $0.20 during trading on Tuesday, hitting $23.27. 91,553 shares of the company's stock were exchanged, compared to its average volume of 60,667. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82. The business has a 50-day simple moving average of $25.14 and a 200-day simple moving average of $23.17. Civeo has a 52-week low of $17.98 and a 52-week high of $28.00. The stock has a market capitalization of $341.14 million, a price-to-earnings ratio of 11.03 and a beta of 2.17.

Civeo (NYSE:CVEO - Get Free Report) last issued its earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.33. Civeo had a net margin of 4.49% and a return on equity of 3.53%. The firm had revenue of $170.80 million during the quarter, compared to analysts' expectations of $151.12 million. On average, research analysts forecast that Civeo will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider's stock valued at $25,001,000 after buying an additional 51,400 shares in the last quarter. TCW Group Inc. increased its holdings in Civeo by 3.1% in the fourth quarter. TCW Group Inc. now owns 744,535 shares of the business services provider's stock valued at $17,013,000 after buying an additional 22,639 shares in the last quarter. Wellington Management Group LLP increased its holdings in Civeo by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider's stock valued at $10,285,000 after buying an additional 4,100 shares in the last quarter. Brown Advisory Inc. increased its holdings in Civeo by 13.4% in the fourth quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider's stock valued at $8,183,000 after buying an additional 42,378 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Civeo by 3.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 317,823 shares of the business services provider's stock valued at $6,588,000 after purchasing an additional 9,800 shares during the period. Hedge funds and other institutional investors own 81.44% of the company's stock.

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.