Barclays Cuts Pet Valu (TSE:PET) Price Target to C$28.00

Pet Valu (TSE:PET) had its target price decreased by Barclays from C$34.00 to C$28.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 13.18% from the stock’s current price.

PET has been the topic of several other reports. Desjardins cut their price target on shares of Pet Valu from C$38.00 to C$32.00 and set a “buy” rating on the stock in a report on Wednesday. National Bank Financial cut Pet Valu from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$37.00 to C$28.00 in a research note on Wednesday. Royal Bank Of Canada reduced their price target on shares of Pet Valu from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Wednesday. Canadian Imperial Bank of Commerce lowered shares of Pet Valu from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$36.00 to C$28.00 in a research report on Wednesday. Finally, Raymond James Financial decreased their price target on shares of Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pet Valu has an average rating of “Moderate Buy” and an average price target of C$31.94.

Pet Valu Stock Performance

PET traded down C$0.45 during midday trading on Wednesday, reaching C$24.74. 465,402 shares of the company were exchanged, compared to its average volume of 167,686. The company has a market cap of C$1.71 billion, a price-to-earnings ratio of 18.06 and a beta of 0.87. Pet Valu has a one year low of C$22.53 and a one year high of C$39.24. The company’s fifty day moving average price is C$28.45 and its 200 day moving average price is C$31.77.

Pet Valu (TSE:PET) last announced its earnings results on Tuesday, March 3rd. The company reported C$0.42 earnings per share (EPS) for the quarter. The company had revenue of C$326.36 million for the quarter. Pet Valu had a return on equity of 115.89% and a net margin of 8.51%. As a group, sell-side analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal 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.