Pet Valu (TSE:PET) Given New C$27.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Pet Valu’s price target to C$27 from C$24 and maintained an “outperform” rating, implying 15.04% upside from the prior close.
• Analyst views are broadly positive: MarketBeat reports an average “Buy” rating and an average price target of C$26.61; Desjardins set a C$28 target with a “buy” rating.
• Pet Valu reported quarterly EPS of C$0.44 and revenue of C$299.52 million. Shares traded at C$23.47 on Wednesday.

Pet Valu (TSE:PET - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from C$24.00 to C$27.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 15.04% from the stock's previous close.

A number of other equities analysts also recently issued reports on PET. Raymond James Financial downgraded Pet Valu from an "outperform" rating to a "market perform" rating and upped their price target for the company from C$21.00 to C$23.00 in a report on Wednesday, August 12th. Barclays raised their price objective on shares of Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. Desjardins boosted 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 report on Wednesday. Canadian Imperial Bank of Commerce upgraded shares of Pet Valu to a "strong-buy" rating in a report on Wednesday, October 7th. Finally, National Bank Financial raised shares of Pet Valu from a "hold" rating to an "outperform" rating and increased their target price for the company from C$23.00 to C$24.00 in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$26.61.

Pet Valu Price Performance

Shares of TSE PET traded up C$0.32 during midday trading on Wednesday, hitting C$23.47. The company's stock had a trading volume of 296,169 shares, compared to its average volume of 216,044. The firm has a market capitalization of C$1.58 billion, a price-to-earnings ratio of 16.41 and a beta of 1.16. The business's fifty day simple moving average is C$18.98 and its two-hundred day simple moving average is C$20.78. Pet Valu has a 1 year low of C$16.58 and a 1 year high of C$30.11.

Pet Valu (TSE:PET - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported C$0.44 earnings per share (EPS) for the quarter. The company had revenue of C$299.52 million for the quarter. Pet Valu had a net margin of 8.31% and a return on equity of 110.16%. Analysts anticipate that Pet Valu will post 1.68 EPS for the current fiscal year.

Pet Valu Company Profile

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.

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