Pet Valu (TSE:PET) Trading Down 12.4% – What’s Next?

Pet Valu Holdings Ltd. (TSE:PET) shares dropped 12.4% during trading on Tuesday . The stock traded as low as C$17.24 and last traded at C$17.30. Approximately 138,539 shares changed hands during trading, a decline of 31% from the average daily volume of 201,171 shares. The stock had previously closed at C$19.76.

Pet Valu News Summary

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

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares at C$17.26, a signal of insider confidence in Pet Valu’s outlook. Pet Valu Holdings Ltd. stock page
• Positive Sentiment: Several analysts still maintained constructive ratings, including Desjardins, Stifel, RBC, ATB Cormark, and Raymond James, all of which kept buy/outperform-style views despite lowering targets. Pet Valu price target update at Desjardins
• Neutral Sentiment: Stifel Nicolaus set a new C$23 target, RBC set C$26, Desjardins set C$26, and CIBC set C$22, suggesting analysts still expect a rebound from the recent share price weakness. Pet Valu price target update at Stifel Nicolaus
• Neutral Sentiment: National Bank Financial and ATB Cormark also cut targets to C$22 and C$30, respectively, reflecting a more cautious valuation stance rather than a full bearish shift. Pet Valu price target update at National Bank Financial
• Negative Sentiment: Barclays downgraded Pet Valu to Equal Weight and slashed its target to C$17 from C$28, the sharpest negative revision in the group and a likely drag on sentiment. Pet Valu downgrade by Barclays

Analyst Upgrades and Downgrades

PET has been the subject of several analyst reports. National Bank Financial cut their price target on Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Wednesday. ATB Cormark Capital Markets cut their price objective on shares of Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank Of Canada reduced their target price on shares of Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Pet Valu from C$32.00 to C$23.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Raymond James Financial cut their price target 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. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Stock Down 2.7%

The company has a market cap of C$1.18 billion, a price-to-earnings ratio of 12.35 and a beta of 1.27. The business has a fifty day simple moving average of C$21.40 and a 200 day simple moving average of C$26.28.

Pet Valu (TSE:PET) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$287.94 million during the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. Equities analysts anticipate that Pet Valu Holdings Ltd. will post 1.6820546 EPS for the current fiscal year.

Insider Activity

In related news, Director Carmine Fortino purchased 10,000 shares of Pet Valu stock in a transaction dated 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 transaction, the director owned 10,000 shares in the company, valued at approximately C$172,600. The trade was a ∞ increase in their ownership of the stock. Insiders own 0.29% of the company’s stock.

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.