National Bank Financial Forecasts Strong Price Appreciation for Pet Valu (TSE:PET) Stock

Pet Valu (TSE:PET) had its price target hoisted by stock analysts at National Bank Financial from C$24.00 to C$28.00 in a report issued on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s target price would suggest a potential upside of 19.30% from the company’s previous close.

A number of other equities analysts have also recently commented on PET. Barclays lifted their price target on shares of Pet Valu from C$17.00 to C$19.00 in a research note on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Pet Valu from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday. Desjardins raised their price objective on shares of Pet Valu from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial lowered Pet Valu from an “outperform” rating to a “market perform” rating and boosted their target price for the company 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 research note on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$26.61.

Pet Valu Stock Performance

TSE PET traded up C$0.32 on Wednesday, hitting C$23.47. 296,169 shares of the stock were exchanged, compared to its average volume of 216,044. The stock has a fifty day moving average price of C$18.98 and a two-hundred day moving average price of C$20.78. The firm 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.

Pet Valu (TSE:PET) last posted its quarterly earnings data on Tuesday, November 10th. The company reported C$0.44 earnings per share for the quarter. Pet Valu had a net margin of 8.31% and a return on equity of 110.16%. The business had revenue of C$299.52 million for the quarter. Sell-side 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.