Pet Valu (TSE:PET) Stock Price Up 1.7% – Here’s What Happened

Pet Valu Holdings Ltd. (TSE:PET) was up 1.7% on Tuesday . The company traded as high as C$18.53 and last traded at C$18.38. 163,829 shares changed hands during trading, a decline of 33% from the average daily volume of 246,233 shares. The stock had previously closed at C$18.07.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PET. Raymond James Financial cut their target price on Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Barclays cut shares of Pet Valu from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from C$28.00 to C$17.00 in a research note on Wednesday, May 13th. Royal Bank Of Canada reduced their target price on shares of Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Desjardins decreased their target price on shares of Pet Valu from C$32.00 to C$26.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce lowered their price target on shares of Pet Valu from C$28.00 to C$22.00 in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Trading Up 2.7%

The business’s fifty day simple moving average is C$18.87 and its 200-day simple moving average is C$23.53. The firm has a market cap of C$1.29 billion, a P/E ratio of 13.78 and a beta of 1.15.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$287.94 million during the quarter. Pet Valu had a net margin of 8.11% and a return on equity of 117.77%. Analysts anticipate that Pet Valu Holdings Ltd. will post 1.6820546 earnings per share for the current year.

Insider Activity

In other Pet Valu news, Director Matthew Reindel bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of C$17.09 per share, for a total transaction of C$85,450.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at C$85,450. The trade was a ∞ increase in their ownership of the stock. Also, Director Carmine Fortino bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of C$17.26 per share, with a total value of C$172,600.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at C$172,600. This represents a ∞ increase in their ownership of the stock. Over the last three months, insiders have acquired 17,800 shares of company stock valued at $308,142. Company insiders own 0.29% of the company’s stock.

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.