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

Pet Valu (TSE:PET) had its price target decreased by stock analysts at CIBC from C$42.00 to C$36.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 22.03% from the company’s previous close.

PET has been the subject of several other reports. National Bankshares boosted their price objective on Pet Valu from C$38.00 to C$41.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Desjardins raised their target price on shares of Pet Valu from C$38.00 to C$41.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Stifel Nicolaus decreased their target price on shares of Pet Valu from C$40.00 to C$37.00 in a research note on Wednesday. Royal Bank Of Canada decreased their target price on shares of Pet Valu from C$43.00 to C$40.00 in a research note on Wednesday. Finally, Raymond James Financial upped their price objective on Pet Valu from C$36.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$38.89.

Pet Valu Stock Down 1.5%

Shares of PET stock traded down C$0.45 on Wednesday, hitting C$29.50. The company had a trading volume of 256,549 shares, compared to its average volume of 113,261. The firm has a market cap of C$2.01 billion, a P/E ratio of 22.01 and a beta of 0.93. The company has a 50-day moving average price of C$36.52 and a 200-day moving average price of C$33.81. Pet Valu has a twelve month low of C$22.53 and a twelve month high of C$39.24.

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.