Pet Valu (TSE:PET) Cut to “Equal Weight” at Barclays

Barclays downgraded shares of Pet Valu (TSE:PET) from an overweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat.com reports. Barclays currently has C$17.00 price target on the stock, down from their previous price target of C$28.00.

A number of other equities research analysts also recently issued reports on PET. Canadian Imperial Bank of Commerce lowered their price objective on Pet Valu from C$28.00 to C$22.00 in a research report on Wednesday. Royal Bank Of Canada reduced their target price on Pet Valu from C$33.00 to C$27.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Raymond James Financial reduced their target price on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. National Bank Financial reduced their target price on Pet Valu from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Finally, TD Securities reduced their target price on Pet Valu from C$40.00 to C$34.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.56.

Pet Valu Stock Performance

Shares of PET stock opened at C$17.67 on Wednesday. Pet Valu has a 52-week low of C$16.58 and a 52-week high of C$39.24. The company has a market capitalization of C$1.20 billion, a PE ratio of 12.90 and a beta of 1.27. The business’s fifty day moving average is C$21.26 and its 200 day moving average is C$26.22.

Pet Valu (TSE:PET) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. Pet Valu had a return on equity of 117.77% and a net margin of 8.11%.The company had revenue of C$287.94 million for the quarter. On average, sell-side analysts forecast that Pet Valu will post 1.6820546 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Carmine Fortino bought 10,000 shares of Pet Valu stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of C$17.26 per share, with a total value of C$172,600.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at C$172,600. The trade was a ∞ increase in their ownership of the stock. 0.29% of the stock is currently owned by corporate insiders.

Trending Headlines about Pet Valu

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

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

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.