Royal Bank Of Canada Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Key Points

• Royal Bank of Canada cut its price target on Pet Valu from C$33.00 to C$27.00 while keeping an "outperform" rating, implying roughly a 33% upside from the recent close.
• Several other brokers (TD, CIBC, Stifel, Desjardins, Raymond James) also trimmed targets on March 4, leaving an average analyst target of C$31.17 and a consensus rating of Moderate Buy (seven Buys, two Holds).
• Shares traded at C$20.26 (down ~1.1%) with a market cap of C$1.4B and a PE of 14.6; the stock is near its 12‑month low versus a high of C$39.24, and last quarter EPS was C$0.49 with ROE of 115.57%.

Pet Valu (TSE:PET - Get Free Report) had its price objective decreased by equities researchers at Royal Bank Of Canada from C$33.00 to C$27.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 33.27% from the stock's previous close.

PET has been the subject of a number of other reports. TD Securities lowered their target price on Pet Valu from C$40.00 to C$34.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Canadian Imperial Bank of Commerce lowered shares of Pet Valu from an "outperform" rating to a "hold" rating and dropped their price objective for the stock from C$36.00 to C$28.00 in a report on Wednesday, March 4th. Stifel Nicolaus reduced their target price on shares of Pet Valu from C$37.00 to C$32.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Desjardins dropped their price target on Pet Valu from C$38.00 to C$32.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Finally, Raymond James Financial reduced their target price on shares of Pet Valu from C$40.00 to C$31.50 and set an "outperform" rating for the company in a report on Wednesday, March 4th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$31.17.

Pet Valu Trading Down 1.1%

Shares of PET stock traded down C$0.23 on Thursday, reaching C$20.26. The company had a trading volume of 103,006 shares, compared to its average volume of 199,138. The stock has a market cap of C$1.40 billion, a PE ratio of 14.58 and a beta of 1.27. The company has a 50-day moving average of C$22.55 and a 200-day moving average of C$27.02. Pet Valu has a 12 month low of C$19.95 and a 12 month high of C$39.24.

Pet Valu (TSE:PET - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.49 earnings per share (EPS) for the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. The firm had revenue of C$326.36 million during the quarter. Sell-side analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current year.

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.

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