Pet Valu (TSE:PET) Cut to Hold at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce downgraded shares of Pet Valu (TSE:PET) from an outperform rating to a hold rating in a research note published on Wednesday, MarketBeat reports. They currently have C$28.00 price target on the stock, down from their previous price target of C$36.00.

A number of other brokerages have also weighed in on PET. Stifel Nicolaus decreased their price objective on shares of Pet Valu from C$40.00 to C$37.00 in a report on Wednesday, November 5th. Royal Bank Of Canada dropped their target price on shares of Pet Valu from C$43.00 to C$40.00 in a research note on Wednesday, November 5th. Desjardins set a C$38.00 target price on shares of Pet Valu and gave the stock a “buy” rating in a research report on Friday, December 19th. Barclays decreased their price target on shares of Pet Valu from C$41.00 to C$34.00 in a research note on Wednesday, November 5th. Finally, TD Securities lowered their price target on Pet Valu from C$44.00 to C$40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Pet Valu currently has an average rating of “Moderate Buy” and an average price target of C$31.94.

Pet Valu Stock Down 1.7%

PET stock opened at C$24.33 on Wednesday. The business’s fifty day simple moving average is C$28.24 and its two-hundred day simple moving average is C$31.58. Pet Valu has a twelve month low of C$22.53 and a twelve month high of C$39.24. The firm has a market cap of C$1.68 billion, a price-to-earnings ratio of 17.76 and a beta of 1.02.

Pet Valu (TSE:PET) last issued its earnings results on Tuesday, March 3rd. The company reported C$0.42 earnings per share (EPS) for the quarter. The firm had revenue of C$326.36 million during the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. Research analysts expect that Pet Valu will post 1.6820546 EPS for the current year.

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.