Stifel Nicolaus Forecasts Strong Price Appreciation for Pet Valu (TSE:PET) Stock

Key Points

• Pet Valu's target price has been raised from C$33.00 to C$40.00 by analysts at Stifel Nicolaus, indicating a potential upside of 10.53% from its current trading price.
• Multiple brokerages have recently upgraded Pet Valu, with a majority now holding a "buy" rating or better, reflecting positive sentiment regarding the stock's performance.
• The stock has shown significant growth, trading at C$36.19 recently, with a fifty-two week high of C$36.29, highlighting strong market interest.

Pet Valu (TSE:PET - Free Report) had its price objective increased by Stifel Nicolaus from C$33.00 to C$40.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Cormark upgraded shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada upped their target price on shares of Pet Valu from C$35.00 to C$41.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Stifel Canada upgraded shares of Pet Valu from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 10th. Raymond James Financial upped their target price on shares of Pet Valu from C$34.00 to C$36.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, TD Securities increased their price objective on shares of Pet Valu from C$32.00 to C$35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$40.22.

Pet Valu Stock Performance

Shares of Pet Valu stock traded down C$0.33 during trading on Wednesday, reaching C$35.97. The company had a trading volume of 88,196 shares, compared to its average volume of 107,156. The company has a market cap of C$2.56 billion, a price-to-earnings ratio of 29.65 and a beta of 0.81. The firm's fifty day moving average is C$33.15 and its 200-day moving average is C$28.76. Pet Valu has a fifty-two week low of C$22.53 and a fifty-two week high of C$36.86.

Pet Valu Increases Dividend

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

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.