Stifel Nicolaus Cuts Pet Valu (TSE:PET) Price Target to C$23.00

Pet Valu (TSE:PET) had its price target decreased by Stifel Nicolaus from C$32.00 to C$23.00 in a research report released on Wednesday,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms have also weighed in on PET. Barclays lowered their price objective on Pet Valu from C$34.00 to C$28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Raymond James Financial decreased their target price on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. National Bank Financial decreased their target price on Pet Valu from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. TD Securities decreased their target price on 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. Finally, Desjardins decreased their target price on Pet Valu from C$38.00 to C$32.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Pet Valu presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.56.

Pet Valu Stock Up 2.9%

Shares of TSE:PET opened at C$17.67 on Wednesday. The firm has a market cap of C$1.20 billion, a P/E ratio of 12.90 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 business has a fifty day simple moving average of C$21.26 and a 200 day simple moving average of C$26.22.

Pet Valu (TSE:PET) last announced its earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$287.94 million during the quarter. Pet Valu had a return on equity of 117.77% and a net margin of 8.11%. As a group, equities research analysts expect that Pet Valu will post 1.6820546 EPS for the current year.

Insider Buying and Selling

In related news, Director Carmine Fortino acquired 10,000 shares of the firm’s 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 acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately C$172,600. This trade represents a ∞ increase in their position. Corporate insiders own 0.29% of the company’s stock.

Pet Valu News Roundup

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

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

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.