Pet Valu (TSE:PET) Stock Rating Upgraded by TD Securities

Pet Valu (TSE:PET) was upgraded by equities researchers at TD Securities to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on PET. Desjardins dropped their price objective on Pet Valu from C$32.00 to C$26.00 and set a “buy” rating for the company in a research note on Wednesday. National Bank Financial dropped their price target on shares of Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Wednesday. Raymond James Financial dropped their price objective on Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays cut Pet Valu from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from C$28.00 to C$17.00 in a report on Wednesday. Finally, Royal Bank Of Canada dropped their price target on Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.56.

Pet Valu Trading Down 2.7%

Shares of TSE:PET opened at C$17.17 on Thursday. The stock’s 50-day moving average price is C$21.40 and its 200-day moving average price is C$26.28. Pet Valu has a 12-month low of C$16.58 and a 12-month high of C$39.24. The stock has a market capitalization of C$1.18 billion, a P/E ratio of 12.35 and a beta of 1.27.

Pet Valu (TSE:PET) last issued 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 return on equity of 117.77% and a net margin of 8.11%. As a group, research analysts predict that Pet Valu will post 1.6820546 EPS for the current year.

Insiders Place Their Bets

In related news, Director Carmine Fortino bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of C$17.26 per share, for a total transaction of C$172,600.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately C$172,600. This represents a ∞ increase in their ownership of the stock. Corporate insiders own 0.29% of the company’s stock.

Trending Headlines about Pet Valu

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, a sign of insider confidence that can be viewed favorably by investors.
• Positive Sentiment: Several analysts still rate Pet Valu favorably despite cutting targets, including Desjardins and RBC at buy/outperform, while others maintained positive or near-positive views; consensus coverage remains Moderate Buy, suggesting long-term optimism remains intact. Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: Pet Valu was featured in an article calling it a “practically perfect” Canadian stock that is down 53% and could be bought and held long term, which may reinforce the view that the stock is deeply discounted rather than fundamentally broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Multiple firms cut price targets for Pet Valu Holdings Ltd. (TSE:PET), including Barclays, Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, indicating analysts have become less bullish on near-term valuation.
• Negative Sentiment: Barclays downgraded Pet Valu to Equal Weight from Overweight and sharply reduced its target, which likely weighed on sentiment and signals more cautious expectations for the stock.

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.