Chewy (NYSE:CHWY) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Chewy (NYSE:CHWY) has been given an average rating of “Moderate Buy” by the twenty-five ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $30.64.

Several equities analysts have recently issued reports on CHWY shares. Weiss Ratings lowered shares of Chewy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, September 10th. Barclays cut their price target on Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Zacks Research upgraded Chewy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a research report on Thursday, September 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $24.00 price target (down from $29.00) on shares of Chewy in a research note on Friday, September 11th.

Chewy Stock Performance

Shares of CHWY stock opened at $18.67 on Tuesday. The company’s fifty day moving average price is $22.21 and its 200-day moving average price is $22.57. The stock has a market cap of $7.50 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.42. The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59. Chewy has a 12 month low of $17.40 and a 12 month high of $40.55.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the business earned $0.33 EPS. Chewy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Chewy will post 0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. raised 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 acquiring an additional 407 shares during the last quarter. Modus Advisors LLC purchased a new stake in Chewy during the 4th quarter valued at $34,000. Parallel Advisors LLC boosted its stake in Chewy by 106.8% during the 1st quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock valued at $43,000 after purchasing an additional 818 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Chewy by 137.0% in the 1st quarter. Root Financial Partners LLC now owns 2,969 shares of the company’s stock worth $80,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in shares of Chewy by 25.0% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.