Desjardins Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its target price upped by analysts at Desjardins from C$26.00 to C$28.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s price target suggests a potential upside of 19.30% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Canadian Imperial Bank of Commerce raised shares of Pet Valu to a “strong-buy” rating in a report on Wednesday, October 7th. Royal Bank Of Canada cut their price target on Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. National Bank Financial upgraded Pet Valu from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$23.00 to C$24.00 in a research note on Monday, November 2nd. Barclays increased their price objective on Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. Finally, Raymond James Financial downgraded Pet Valu from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$21.00 to C$23.00 in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Pet Valu presently has an average rating of “Buy” and a consensus price target of C$26.61.

Pet Valu Price Performance

Shares of TSE PET traded up C$0.32 during trading on Wednesday, reaching C$23.47. 296,169 shares of the stock traded hands, compared to its average volume of 216,044. The stock has a market capitalization of C$1.58 billion, a P/E ratio of 16.41 and a beta of 1.16. Pet Valu has a 52-week low of C$16.58 and a 52-week high of C$30.11. The company has a 50-day moving average of C$18.98 and a 200-day moving average of C$20.78.

Pet Valu (TSE:PET) last announced 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 will post 1.68 earnings per share for the current fiscal year.

About Pet Valu

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.