Chewy (NYSE:CHWY) Rating Reiterated by Credit Suisse Group

Chewy (NYSE:CHWY)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group in a note issued to investors on Wednesday, PriceTargets.com reports. They presently have a $121.00 price target on the stock. Credit Suisse Group’s price target suggests a potential upside of 52.49% from the company’s current price.

Several other research analysts have also recently weighed in on CHWY. Cfra assumed coverage on Chewy in a research note on Monday, April 12th. They set a “hold” rating for the company. Jefferies Financial Group raised their target price on Chewy from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Wedbush raised their target price on Chewy from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 31st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Chewy in a research note on Monday, March 15th. They set a “neutral” rating and a $95.00 target price for the company. Finally, Guggenheim assumed coverage on Chewy in a research note on Monday, May 3rd. They set a “buy” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $95.83.

NYSE:CHWY opened at $79.35 on Wednesday. Chewy has a 1 year low of $44.31 and a 1 year high of $120.00. The company has a market capitalization of $32.95 billion, a PE ratio of -345.00, a price-to-earnings-growth ratio of 19.52 and a beta of 0.08. The stock has a fifty day simple moving average of $76.96.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Thursday, June 10th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.11. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted ($0.12) EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, research analysts expect that Chewy will post 0.2 earnings per share for the current fiscal year.

In related news, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $81.50, for a total value of $501,225,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stacy Bowman sold 11,422 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $87.00, for a total value of $993,714.00. Following the completion of the sale, the insider now directly owns 77,590 shares of the company’s stock, valued at $6,750,330. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ensign Peak Advisors Inc raised its stake in shares of Chewy by 3.1% during the 1st quarter. Ensign Peak Advisors Inc now owns 5,134 shares of the company’s stock worth $435,000 after purchasing an additional 153 shares in the last quarter. First Manhattan Co. raised its stake in shares of Chewy by 35.0% during the 1st quarter. First Manhattan Co. now owns 675 shares of the company’s stock worth $57,000 after purchasing an additional 175 shares in the last quarter. Signaturefd LLC raised its stake in shares of Chewy by 243.7% during the 4th quarter. Signaturefd LLC now owns 299 shares of the company’s stock worth $27,000 after purchasing an additional 212 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Chewy by 33.0% during the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $78,000 after purchasing an additional 230 shares in the last quarter. Finally, MTM Investment Management LLC raised its stake in shares of Chewy by 5.4% during the 1st quarter. MTM Investment Management LLC now owns 5,325 shares of the company’s stock worth $451,000 after purchasing an additional 275 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services 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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