Chewy (NYSE:CHWY) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Chewy (NYSE:CHWY) had its target price lifted by analysts at Royal Bank Of Canada from $43.00 to $47.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 82.74% from the company’s current price.

A number of other brokerages have also weighed in on CHWY. Citizens Jmp cut their price objective on Chewy from $48.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Chewy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating on shares of Chewy in a research note on Thursday, February 5th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, December 11th. Finally, Citigroup decreased their price objective on shares of Chewy from $42.00 to $40.00 and set a “buy” rating for the company in a report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Chewy Trading Down 1.5%

Shares of CHWY stock traded down $0.40 during mid-day trading on Monday, reaching $25.72. The stock had a trading volume of 3,319,791 shares, compared to its average volume of 8,336,195. The firm has a market capitalization of $10.67 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 1.77 and a beta of 1.60. The stock’s 50-day moving average price is $26.92 and its two-hundred day moving average price is $32.11. Chewy has a 52-week low of $22.74 and a 52-week high of $48.62.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities research analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CTO Satish Mehta sold 13,013 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Chewy

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC purchased a new position in Chewy during the third quarter valued at $27,000. CoreCap Advisors LLC increased its stake in shares of Chewy by 306.3% in the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 637 shares in the last quarter. Harbour Investments Inc. lifted its position in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after acquiring an additional 407 shares during the period. Osterweis Capital Management Inc. purchased a new position in Chewy during the 2nd quarter valued at about $30,000. Finally, Los Angeles Capital Management LLC bought a new stake in Chewy during the fourth quarter worth about $31,000. 93.09% of the stock is currently owned by institutional investors.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.