Pet Valu (TSE:PET) Downgraded by Barclays to “Equal Weight”

Pet Valu (TSE:PET) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday,BayStreet.CA reports. They presently have a C$17.00 price objective on the stock, down from their prior price objective of C$28.00. Barclays‘s target price would indicate a potential downside of 2.52% from the company’s current price.

A number of other research analysts have also recently issued reports on PET. TD Securities decreased their target price on Pet Valu from C$40.00 to C$34.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce decreased their target price on Pet Valu from C$28.00 to C$22.00 in a research report on Wednesday. Raymond James Financial decreased their target price on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. National Bank Financial decreased their target price on Pet Valu from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a research report on Friday, April 24th. Finally, Royal Bank Of Canada decreased their target price on Pet Valu from C$33.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$24.56.

Pet Valu Price Performance

PET stock traded up C$0.44 during midday trading on Wednesday, reaching C$17.44. The company had a trading volume of 372,558 shares, compared to its average volume of 221,750. The company has a market capitalization of C$1.20 billion, a price-to-earnings ratio of 12.55 and a beta of 1.27. The stock has a 50 day moving average price of C$21.77 and a 200-day moving average price of C$26.55. Pet Valu has a 1-year low of C$16.58 and a 1-year high of C$39.24.

Pet Valu (TSE:PET) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.31 EPS for the quarter. The business had revenue of C$287.94 million during the quarter. Pet Valu had a return on equity of 115.57% and a net margin of 8.32%. As a group, research 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.