Pet Valu (TSE:PET) Stock Moved Up to "Strong-Buy" by Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce upgraded Pet Valu to “strong buy,” while analysts overall maintain a “moderate buy” consensus with an average price target of C$24.89.
• Pet Valu shares rose 1.1% to C$18.68, well below their 12-month high of C$36.52; the company has a C$1.26 billion market capitalization.
• The retailer reported quarterly revenue of C$290.68 million and earnings of C$0.41 per share, with analysts forecasting full-year EPS of C$1.68.

Pet Valu (TSE:PET - Get Free Report) was upgraded by stock analysts at Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report issued on Wednesday, Zacks reports.

Several other equities research analysts also recently weighed in on the company. Barclays raised their price target on Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. Royal Bank Of Canada decreased their price objective on shares of Pet Valu from C$26.00 to C$24.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Raymond James Financial lowered shares of Pet Valu from an "outperform" rating to a "market perform" rating and increased their price objective for the company from C$21.00 to C$23.00 in a research report on Wednesday, August 12th. Finally, National Bank Financial lifted their target price on shares of Pet Valu from C$22.00 to C$23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Pet Valu has an average rating of "Moderate Buy" and an average target price of C$24.89.

Pet Valu Trading Up 1.1%

Shares of PET opened at C$18.68 on Wednesday. The firm has a market cap of C$1.26 billion, a PE ratio of 13.06 and a beta of 1.01. Pet Valu has a 12 month low of C$16.58 and a 12 month high of C$36.52. The stock has a fifty day moving average price of C$18.55 and a 200-day moving average price of C$19.13.

Pet Valu (TSE:PET - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$0.41 earnings per share for the quarter. Pet Valu had a return on equity of 110.16% and a net margin of 8.31%. The firm had revenue of C$290.68 million for the quarter. As a group, research analysts forecast that Pet Valu will post 1.68 EPS for the current year.

Pet Valu Company Profile

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.

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