Pet Valu (TSE:PET) Shares Climb 6.4% – Time to Buy?

Shares of Pet Valu Holdings Ltd. (TSE:PET) were up 6.4% during mid-day trading on Tuesday. The company traded as high as C$23.01 and last traded at C$22.90. 390,980 shares were traded during trading, an increase of 83% from the average daily volume of 213,962 shares. The stock had previously closed at C$21.52.

Wall Street Analyst Weigh In

PET has been the topic of several research analyst reports. National Bank Financial raised Pet Valu from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$23.00 to C$24.00 in a research note on Monday, November 2nd. Royal Bank Of Canada dropped their price objective on Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Barclays lifted their price objective on Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. Raymond James Financial downgraded Pet Valu from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$21.00 to C$23.00 in a research report on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce raised Pet Valu to a “strong-buy” rating in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$25.00.

Pet Valu Trading Up 7.4%

The firm has a market capitalization of C$1.55 billion, a PE ratio of 16.16 and a beta of 1.16. The stock’s 50 day moving average price is C$18.89 and its two-hundred day moving average price is C$20.81.

Pet Valu (TSE:PET) last issued its quarterly earnings data on Tuesday, November 10th. The company reported C$0.44 earnings per share (EPS) for the quarter. The business had revenue of C$299.52 million for the quarter. Pet Valu had a return on equity of 110.16% and a net margin of 8.31%. Analysts expect that Pet Valu Holdings Ltd. will post 1.68 earnings per share for the current year.

Pet Valu Company Profile

Pet Valu is Canada’s leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For 50 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, an extensive product offering and engaging in-store services. Through its local neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of exclusive, holistic and award-winning proprietary brands.