Pet Valu (TSE:PET) Given New C$41.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target for Pet Valu from C$35.00 to C$41.00, suggesting a 22.06% potential upside from the stock's previous close.
• Other analysts, including TD Securities and ATB Capital, also increased their price targets, with eight analysts rating the stock as a "buy."
• Pet Valu's stock currently trades at C$33.59, down C$0.41 on the day, with a market capitalization of C$2.39 billion and a PE ratio of 27.69.

Pet Valu (TSE:PET - Free Report) had its price target hoisted by Royal Bank Of Canada from C$35.00 to C$41.00 in a report published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently commented on PET. TD Securities increased their target price on shares of Pet Valu from C$32.00 to C$35.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial increased their target price on shares of Pet Valu from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Desjardins increased their target price on shares of Pet Valu from C$32.00 to C$38.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. ATB Capital increased their price target on shares of Pet Valu from C$39.00 to C$40.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus increased their price target on shares of Pet Valu from C$28.50 to C$33.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pet Valu has a consensus rating of "Buy" and an average target price of C$35.67.

Pet Valu Price Performance

Shares of Pet Valu stock traded down C$0.25 on Thursday, hitting C$33.28. The company had a trading volume of 99,917 shares, compared to its average volume of 103,833. The firm has a market capitalization of C$2.37 billion, a P/E ratio of 27.44 and a beta of 0.81. Pet Valu has a twelve month low of C$22.53 and a twelve month high of C$34.59. The stock has a 50-day moving average of C$32.64 and a 200-day moving average of C$28.43.

Pet Valu Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were issued a dividend of $0.12 per share. This is a boost from Pet Valu's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. 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.