CIBC Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price objective cut by stock analysts at CIBC from C$31.00 to C$29.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 18.22% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lowered their target price on Pet Valu from C$28.00 to C$27.00 in a research note on Wednesday, November 6th. Raymond James lowered their target price on shares of Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday, November 6th. Cormark cut shares of Pet Valu from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Pet Valu from C$34.00 to C$35.00 in a research report on Wednesday, November 6th. Finally, TD Securities cut their price objective on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Pet Valu has a consensus rating of “Buy” and a consensus target price of C$31.00.

Pet Valu Stock Performance

Pet Valu stock traded down C$0.05 during midday trading on Wednesday, hitting C$24.53. 9,781 shares of the company were exchanged, compared to its average volume of 45,059. Pet Valu has a fifty-two week low of C$23.58 and a fifty-two week high of C$32.74. The business has a fifty day simple moving average of C$25.34 and a two-hundred day simple moving average of C$25.53. The firm has a market capitalization of C$1.74 billion, a PE ratio of 20.22 and a beta of 0.81.

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.