Desjardins Has Lowered Expectations for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price target decreased by investment analysts at Desjardins from C$38.00 to C$32.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 29.35% from the stock’s current price.

A number of other analysts also recently issued reports on PET. Raymond James Financial cut their price target on shares of Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus decreased their price target on Pet Valu from C$37.00 to C$32.00 and set a “buy” rating on the stock in a research note on Wednesday. Canadian Imperial Bank of Commerce cut shares of Pet Valu from an “outperform” rating to a “neutral” rating and decreased their target price for the company from C$36.00 to C$28.00 in a research report on Wednesday. National Bank Financial cut shares of Pet Valu from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$37.00 to C$28.00 in a research report on Wednesday. Finally, Royal Bank Of Canada cut their target price on Pet Valu from C$35.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$31.94.

Pet Valu Stock Down 1.8%

Shares of Pet Valu stock traded down C$0.45 on Wednesday, hitting C$24.74. 465,402 shares of the company were exchanged, compared to its average volume of 167,686. Pet Valu has a 1-year low of C$22.53 and a 1-year high of C$39.24. The stock has a market capitalization of C$1.71 billion, a price-to-earnings ratio of 18.06 and a beta of 0.87. The company has a 50-day moving average price of C$28.45 and a 200 day moving average price of C$31.77.

Pet Valu (TSE:PET) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.42 earnings per share for the quarter. Pet Valu had a net margin of 8.51% and a return on equity of 115.89%. The firm had revenue of C$326.36 million for the quarter. Research analysts forecast that Pet Valu will post 1.6820546 EPS for the current year.

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.