Pet Valu (TSE:PET) Director Purchases C$172,600.00 in Stock

Pet Valu Holdings Ltd. (TSE:PET) Director Carmine Fortino acquired 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of C$17.26 per share, with a total value of C$172,600.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at C$172,600. This represents a ∞ increase in their ownership of the stock.

Pet Valu Stock Down 2.8%

Shares of TSE PET traded down C$0.49 during trading on Thursday, reaching C$17.16. 331,423 shares of the stock were exchanged, compared to its average volume of 224,865. The company has a market capitalization of C$1.18 billion, a price-to-earnings ratio of 12.35 and a beta of 1.27. The business’s 50-day moving average price is C$21.56 and its 200 day moving average price is C$26.42. Pet Valu Holdings Ltd. has a twelve month low of C$16.58 and a twelve month high of C$39.24.

Pet Valu (TSE:PET) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.31 EPS for the quarter. The firm had revenue of C$287.94 million for the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. As a group, sell-side analysts expect that Pet Valu Holdings Ltd. will post 1.6820546 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PET. Royal Bank Of Canada dropped their price objective on Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday. TD Securities decreased their price target on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce cut their price target on shares of Pet Valu from C$28.00 to C$22.00 in a report on Wednesday. Desjardins reduced their price objective on shares of Pet Valu from C$32.00 to C$26.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays lowered shares of Pet Valu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from C$28.00 to C$17.00 in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Pet Valu currently has a consensus rating of “Moderate Buy” and an average target price of C$24.56.

Pet Valu News Summary

Here are the key news stories impacting Pet Valu this week:

• Neutral Sentiment: Several brokerages adjusted their views on Pet Valu, including new price targets from Desjardins (C$26), Stifel Nicolaus (C$23), Royal Bank of Canada (C$26), and CIBC (C$22), while ATB Cormark cut its target to C$30 and National Bank Financial lowered its target to C$22. Article Title
• Negative Sentiment: Barclays downgraded Pet Valu (TSE:PET) to Equal Weight and sharply reduced its price target to C$17, signaling less enthusiasm for the stock’s near-term upside. Article Title
• Negative Sentiment: The company also reported first-quarter profit down from a year ago and trimmed its profit outlook, reinforcing concerns that earnings momentum may be slowing. Article Title

About Pet Valu

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.