Pet Valu (TSE:PET) Director Purchases C$172,600.00 in Stock

Pet Valu Holdings Ltd. (TSE:PET) Director Carmine Fortino purchased 10,000 shares of Pet Valu stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of C$17.26 per share, with a total value of C$172,600.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately C$172,600. This trade represents a ∞ increase in their position.

Pet Valu Trading Up 2.9%

PET stock opened at C$17.67 on Friday. The firm has a 50 day moving average of C$21.26 and a 200-day moving average of C$26.22. Pet Valu Holdings Ltd. has a 12-month low of C$16.58 and a 12-month high of C$39.24. The company has a market cap of C$1.20 billion, a price-to-earnings ratio of 12.90 and a beta of 1.27.

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

Pet Valu News Summary

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PET. Raymond James Financial reduced their price target on shares of Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday. Desjardins reduced their price target on shares of Pet Valu from C$32.00 to C$26.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank Of Canada dropped their price objective on shares of Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Securities raised shares of Pet Valu to a “strong-buy” rating in a research note on Thursday. Finally, National Bank Financial dropped their price objective 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 note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$24.56.

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.