Barclays Has Lowered Expectations for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price objective decreased by equities researchers at Barclays from C$34.00 to C$28.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 13.18% from the company’s current price.

Several other research firms also recently issued reports on PET. National Bank Financial downgraded Pet Valu from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$37.00 to C$28.00 in a research note on Wednesday. Stifel Nicolaus dropped their price target 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. TD Securities reduced their price objective on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating on the stock in a research note on Wednesday. Canadian Imperial Bank of Commerce downgraded Pet Valu from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$36.00 to C$28.00 in a report on Wednesday. Finally, Raymond James Financial decreased their price target on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Pet Valu currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.94.

Pet Valu Stock Performance

Shares of Pet Valu stock traded down C$0.45 during trading on Wednesday, reaching C$24.74. 465,402 shares of the company’s stock were exchanged, compared to its average volume of 167,686. Pet Valu has a 1-year low of C$22.53 and a 1-year high of C$39.24. The company has a market cap of C$1.71 billion, a P/E ratio of 18.06 and a beta of 0.87. The firm’s 50-day moving average price is C$28.45 and its 200 day moving average price is C$31.77.

Pet Valu (TSE:PET) last issued its earnings results on Tuesday, March 3rd. The company reported C$0.42 EPS for the quarter. The firm had revenue of C$326.36 million during the quarter. Pet Valu had a return on equity of 115.89% and a net margin of 8.51%. As a group, equities research analysts predict that Pet Valu will post 1.6820546 EPS 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.