Chewy (NYSE:CHWY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Chewy (NYSE:CHWY) has received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.7727.

Several analysts have weighed in on CHWY shares. UBS Group cut their price objective on Chewy from $42.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Morgan Stanley cut their price objective on Chewy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. TD Cowen lifted their price objective on Chewy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Citizens Jmp lowered their target price on shares of Chewy from $48.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, March 26th. Finally, Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Chewy in a report on Monday, April 27th.

Chewy Stock Performance

Chewy stock opened at $19.62 on Wednesday. The stock’s 50 day simple moving average is $25.15 and its two-hundred day simple moving average is $29.05. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 0.94 and a beta of 1.50. Chewy has a fifty-two week low of $19.47 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.26 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, analysts predict that Chewy will post 0.89 earnings per share for the current year.

Key Headlines Impacting Chewy

Here are the key news stories impacting Chewy this week:

• Negative Sentiment: Chewy’s investor-conference comments reportedly reflected caution on consumer spending, which could weigh on near-term sales growth and customer demand. Chewy slides nearly 8% as cautious consumer tone pressures shares at investor conference
• Negative Sentiment: The stock hit a new 52-week low, which often triggers additional technical and momentum-driven selling from traders and systematic funds. Chewy Stock Is Hit New 52-Week Low On Tuesday – Here’s Why
• Neutral Sentiment: Chewy presented at J.P. Morgan’s technology, media and communications conference, keeping the stock in focus, but the transcript itself does not provide a clear new catalyst. Chewy, Inc. (CHWY) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Neutral Sentiment: Chewy was also highlighted by analysts as a GARP-style stock and as a name with premium/value mix expansion potential, but these are longer-term supportive themes rather than immediate trading catalysts. Add These 4 GARP Stocks to Your Portfolio to Receive Handsome Returns

Insider Buying and Selling

In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of Chewy stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 4,220 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $108,032.00. Following the sale, the chief executive officer directly owned 123,955 shares of the company’s stock, valued at approximately $3,173,248. The trade was a 3.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 95,675 shares of company stock valued at $2,459,955. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently modified their holdings of CHWY. CoreCap Advisors LLC grew its position in shares of Chewy by 306.3% during the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 637 shares during the period. Harbour Investments Inc. boosted its holdings in Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after buying an additional 407 shares during the period. Osterweis Capital Management Inc. bought a new position in Chewy in the 2nd quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in Chewy in the 4th quarter worth $31,000. Finally, Modus Advisors LLC bought a new position in Chewy in the 4th quarter worth $34,000. Institutional investors own 93.09% of the company’s stock.

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.