National Bank Financial Has Lowered Expectations for Pet Valu (TSE:PET) Stock Price

Key Points

• National Bank Financial lowered its price target for Pet Valu from C$28.00 to C$27.00 while maintaining a "sector perform" rating, with the revised target implying about a 27.96% upside from the prior close.
• Multiple brokers also cut targets on March 4 (TD, Desjardins, CIBC, Barclays, RBC), leaving a consensus rating of Moderate Buy with an average target of C$31.83 (seven Buys, two Holds).
• Shares traded at C$21.10 on Friday (down C$0.26) with a market cap of C$1.45B, P/E of 15.18 and a 12-month range of C$19.95–C$39.24; last quarter reported EPS of C$0.49 on C$326.36M revenue.

Pet Valu (TSE:PET - Get Free Report) had its price target cut by National Bank Financial from C$28.00 to C$27.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price target suggests a potential upside of 27.96% from the stock's previous close.

PET has been the topic of a number of other reports. TD Securities lowered their price objective on Pet Valu from C$40.00 to C$34.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Desjardins lowered their price objective on Pet Valu from C$38.00 to C$32.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce cut Pet Valu from an "outperform" rating to a "hold" rating and lowered their price objective for the company from C$36.00 to C$28.00 in a research report on Wednesday, March 4th. Barclays lowered their price objective on Pet Valu from C$34.00 to C$28.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada lowered their price objective on Pet Valu from C$35.00 to C$33.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$31.83.

Pet Valu Price Performance

Shares of PET traded down C$0.26 on Friday, reaching C$21.10. 61,242 shares of the stock traded hands, compared to its average volume of 206,360. The firm has a market cap of C$1.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.29. Pet Valu has a 12 month low of C$19.95 and a 12 month high of C$39.24. The stock's 50-day moving average price is C$23.66 and its 200-day moving average price is C$27.83.

Pet Valu (TSE:PET - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$326.36 million for the quarter. Pet Valu had a return on equity of 115.57% and a net margin of 8.32%. As a group, equities research analysts forecast 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.

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