Royal Bank Of Canada Has Lowered Expectations for Pet Valu (TSE:PET) Stock Price

Key Points

• Royal Bank of Canada cut Pet Valu’s price target from C$26 to C$24 while maintaining an “outperform” rating, implying 23.71% upside from the prior close.
• Analyst sentiment remains positive but targets have broadly declined; Pet Valu has a consensus “Moderate Buy” rating and an average target of C$24.33.
• Shares rose 0.3% to C$19.40, while insiders purchased 17,800 shares worth approximately C$308,142 over the past 90 days.

Pet Valu (TSE:PET - Get Free Report) had its price target dropped by equities research analysts at Royal Bank Of Canada from C$26.00 to C$24.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 23.71% from the company's previous close.

PET has been the topic of several other research reports. Stifel Nicolaus dropped their target price on shares of Pet Valu from C$32.00 to C$23.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce decreased their target price on Pet Valu from C$28.00 to C$22.00 in a report on Wednesday, May 13th. ATB Cormark Capital Markets decreased their price objective on shares of Pet Valu from C$40.00 to C$30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. TD Securities upgraded Pet Valu to a "strong-buy" rating in a research note on Thursday, May 21st. Finally, Raymond James Financial cut their target price on shares of Pet Valu from C$31.50 to C$21.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$24.33.

Pet Valu Trading Up 0.3%

Shares of TSE:PET traded up C$0.05 during trading on Tuesday, reaching C$19.40. 80,048 shares of the company traded hands, compared to its average volume of 234,683. The business's fifty day moving average is C$18.52 and its 200-day moving average is C$22.36. The firm has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 14.16 and a beta of 1.13. Pet Valu has a 52-week low of C$16.58 and a 52-week high of C$39.24.

Pet Valu (TSE:PET - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. The business had revenue of C$287.94 million for the quarter. Pet Valu had a net margin of 8.11% and a return on equity of 117.77%. On average, sell-side analysts predict that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

Insider Activity at Pet Valu

In other news, insider Gregory Mark Ramier bought 2,800 shares of the stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of C$17.89 per share, for a total transaction of C$50,092.00. Following the completion of the purchase, the insider directly owned 2,800 shares in the company, valued at approximately C$50,092. The trade was a ∞ increase in their ownership of the stock. Also, Director Carmine Fortino purchased 10,000 shares of the business's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of C$17.26 per share, for a total transaction of C$172,600.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at approximately C$172,600. The trade was a ∞ increase in their position. Insiders bought 17,800 shares of company stock valued at $308,142 over the last 90 days. Insiders own 0.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.