National Bankshares Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Key Points

• National Bankshares has raised its target price for Pet Valu (TSE:PET) stock from C$38.00 to C$41.00, indicating a potential upside of 13.29% from its previous close.
• Other analysts have also increased their price targets, with Barclays, Cormark, Stifel Nicolaus, and Raymond James Financial all indicating positive outlooks for the stock.
• Pet Valu's stock recently traded up 0.8% to C$36.19, reflecting a bullish sentiment among analysts, with a consensus rating of "Buy" and an average target price of C$40.22.

Pet Valu (TSE:PET - Free Report) had its target price upped by National Bankshares from C$38.00 to C$41.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. TD Securities boosted their price target on shares of Pet Valu from C$35.00 to C$44.00 and gave the stock a "buy" rating in a report on Wednesday. Raymond James Financial boosted their price target on shares of Pet Valu from C$36.00 to C$40.00 and gave the stock an "outperform" rating in a report on Wednesday. Cormark raised shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a report on Wednesday, May 7th. Stifel Canada raised shares of Pet Valu from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 10th. Finally, Royal Bank Of Canada boosted their price target on shares of Pet Valu from C$35.00 to C$41.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pet Valu currently has an average rating of "Buy" and an average target price of C$40.22.

Pet Valu Price Performance

Shares of TSE PET traded down C$0.33 during trading on Wednesday, hitting C$35.97. The stock had a trading volume of 88,196 shares, compared to its average volume of 107,156. Pet Valu has a 12 month low of C$22.53 and a 12 month high of C$36.86. The company has a market capitalization of C$2.56 billion, a PE ratio of 29.65 and a beta of 0.81. The firm has a fifty day moving average of C$33.15 and a two-hundred day moving average of C$28.76.

Pet Valu Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 16th were given a dividend of $0.12 per share. This is a boost from Pet Valu's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, May 30th. Pet Valu's dividend payout ratio (DPR) is currently 36.27%.

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.