Pet Valu (TSE:PET) Price Target Raised to C$44.00 at TD Securities

Key Points

• TD Securities has raised its price target for Pet Valu from C$35.00 to C$44.00, suggesting a potential upside of 21.58% and maintaining a "buy" rating on the stock.
• Multiple analysts have recently upgraded their ratings for Pet Valu, indicating positive market sentiment, with most recommending it as a buy.
• Pet Valu's stock recently traded up C$0.27, with a current price of C$36.19 and a market capitalization of C$2.57 billion.

Pet Valu (TSE:PET - Free Report) had its price target boosted by TD Securities from C$35.00 to C$44.00 in a research note released on Wednesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other analysts have also issued reports on PET. Raymond James Financial raised their price target on shares of Pet Valu from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada raised 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 research report on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of Pet Valu from C$33.00 to C$40.00 and gave the stock a "buy" rating in a research report on Wednesday. Cormark upgraded shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, May 7th. Finally, ATB Capital lifted their target price on shares of Pet Valu from C$40.00 to C$41.00 and gave the company an "outperform" rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$40.22.

Pet Valu Stock Down 0.9%

TSE PET traded down C$0.33 during midday trading on Wednesday, hitting C$35.97. The company had a trading volume of 88,196 shares, compared to its average volume of 107,156. The stock 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 has a fifty day simple moving average of C$33.15 and a two-hundred day simple moving average of 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 business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were paid a $0.12 dividend. This is a boost from Pet Valu's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 30th. Pet Valu's payout ratio is presently 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.