Wedbush Reaffirms “Neutral” Rating for Chewy (NYSE:CHWY)

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Chewy (NYSE:CHWY)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a report released on Monday, 24/7 WallStreet reports. They currently have a $30.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 25.89% from the stock’s previous close.

CHWY has been the subject of a number of other reports. Raymond James reiterated a “hold” rating on shares of Chewy in a report on Wednesday, September 18th. Zacks Investment Research upgraded Chewy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, August 20th. Credit Suisse Group initiated coverage on Chewy in a report on Monday, November 11th. They set an “outperform” rating and a $29.00 price objective for the company. ValuEngine upgraded Chewy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Nomura raised Chewy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $32.00 to $36.00 in a research report on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Chewy presently has a consensus rating of “Buy” and an average price target of $36.17.

Shares of Chewy stock opened at $23.83 on Monday. Chewy has a 52 week low of $21.68 and a 52 week high of $41.34. The firm has a 50 day moving average price of $24.79.

Chewy (NYSE:CHWY) last issued its earnings results on Tuesday, September 17th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. Equities research analysts expect that Chewy will post -0.57 EPS for the current fiscal year.

In related news, Director Sharon Mccollam purchased 3,500 shares of Chewy stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $27.50 per share, for a total transaction of $96,250.00. Also, Director James A. Star purchased 41,521 shares of Chewy stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price of $23.94 per share, with a total value of $994,012.74.

A number of hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC purchased a new position in Chewy in the second quarter valued at about $58,000. Atlas Capital Advisors LLC bought a new position in shares of Chewy during the 2nd quarter valued at approximately $140,000. Creative Planning purchased a new stake in shares of Chewy during the 2nd quarter worth approximately $415,000. SG Americas Securities LLC purchased a new stake in shares of Chewy during the 2nd quarter worth approximately $2,117,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Chewy in the 2nd quarter worth approximately $54,000.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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