Royal Bank Of Canada Cuts Pet Valu (TSE:PET) Price Target to C$26.00

Pet Valu (TSE:PET) had its price objective trimmed by Royal Bank Of Canada from C$27.00 to C$26.00 in a report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PET has been the subject of several other research reports. Raymond James Financial reduced their price objective on shares of Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a report on Wednesday. TD Securities reduced their price objective on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Barclays downgraded shares of Pet Valu from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$28.00 to C$17.00 in a report on Wednesday. National Bank Financial cut their price target on shares of Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, ATB Cormark Capital Markets cut their target price on shares of Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Stock Up 2.9%

PET stock opened at C$17.67 on Wednesday. The company has a market capitalization of C$1.20 billion, a P/E ratio of 12.90 and a beta of 1.27. The company has a 50-day simple moving average of C$21.26 and a 200 day simple moving average of C$26.22. Pet Valu has a fifty-two week low of C$16.58 and a fifty-two week high of C$39.24.

Pet Valu (TSE:PET) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. The business had revenue of C$287.94 million during the quarter. Pet Valu had a net margin of 8.11% and a return on equity of 117.77%. Equities analysts anticipate that Pet Valu will post 1.6820546 EPS for the current year.

Insider Activity at Pet Valu

In other news, Director Carmine Fortino bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of C$17.26 per share, for a total transaction of C$172,600.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at C$172,600. This represents a ∞ increase in their position. 0.29% of the stock is currently owned by insiders.

Trending Headlines about Pet Valu

Here are the key news stories impacting Pet Valu this week:

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

About Pet Valu

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.