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

Key Points

• Pet Valu's price target has been increased from C$32.00 to C$41.00 by Barclays, indicating a potential upside of 13.29% from its current value.
• The company currently holds a consensus rating of "Buy" with nine analysts rating it as a buy and two as a strong buy.
• Pet Valu's stock traded at C$36.19, with a market cap of C$2.57 billion and a P/E ratio of 29.84.

Pet Valu (TSE:PET - Get Free Report) had its target price lifted by equities researchers at Barclays from C$32.00 to C$41.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 13.17% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. ATB Capital raised their price objective on shares of Pet Valu from C$40.00 to C$41.00 and gave the stock an "outperform" rating in a report on Wednesday. Cormark raised Pet Valu from a "hold" rating to a "moderate buy" rating in a report on Wednesday, May 7th. Royal Bank Of Canada upped their price objective on 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 Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. Finally, TD Securities increased their price objective on Pet Valu from C$35.00 to C$44.00 and gave the stock a "buy" rating in a research note on Wednesday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pet Valu currently has a consensus rating of "Buy" and a consensus target price of C$40.22.

Pet Valu Stock Performance

Shares of TSE:PET traded down C$0.07 on Wednesday, hitting C$36.23. 37,901 shares of the company were exchanged, compared to its average volume of 106,812. The company's 50 day moving average price is C$33.05 and its two-hundred day moving average price is C$28.66. The firm has a market capitalization of C$2.58 billion, a price-to-earnings ratio of 29.87 and a beta of 0.81. Pet Valu has a one year low of C$22.53 and a one year high of C$36.86.

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.