Royal Bank Of Canada Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its target price dropped by equities researchers at Royal Bank Of Canada from C$27.00 to C$26.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 49.08% from the company’s current price.

Other analysts have also recently issued reports about the stock. Canadian Imperial Bank of Commerce lowered their price objective on shares of Pet Valu from C$28.00 to C$22.00 in a research note on Wednesday. Stifel Nicolaus lowered their price objective on shares of Pet Valu from C$32.00 to C$23.00 and set a “buy” rating for the company in a research note on Wednesday. TD Securities lowered their price objective on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Barclays cut shares of Pet Valu from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from C$28.00 to C$17.00 in a research note on Wednesday. Finally, Raymond James Financial lowered their price objective on shares of Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$24.56.

Pet Valu Price Performance

PET stock traded up C$0.44 during midday trading on Wednesday, hitting C$17.44. The stock had a trading volume of 372,558 shares, compared to its average volume of 221,750. The firm has a market cap of C$1.20 billion, a PE ratio of 12.55 and a beta of 1.27. Pet Valu has a 12-month low of C$16.58 and a 12-month high of C$39.24. The company’s 50-day moving average price is C$21.77 and its 200 day moving average price is C$26.55.

Pet Valu (TSE:PET) last released its earnings results on Tuesday, May 12th. The company reported C$0.31 EPS for the quarter. The firm had revenue of C$287.94 million during 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 anticipate that Pet Valu will post 1.6820546 EPS 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.