Mizuho Cuts Chewy (NYSE:CHWY) Price Target to $28.00

Chewy (NYSE:CHWY) had its price target decreased by equities research analysts at Mizuho from $32.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 50.01% from the stock’s previous close.

A number of other research firms have also issued reports on CHWY. Citigroup reiterated a “market outperform” rating on shares of Chewy in a research note on Thursday, September 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $24.00 target price (down from $29.00) on shares of Chewy in a research note on Friday, September 11th. Rosenblatt Securities cut their price target on Chewy from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 10th. Citizens Jmp reissued a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Thursday, September 10th. Finally, TD Cowen cut their price objective on shares of Chewy from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.45.

Chewy Price Performance

NYSE CHWY opened at $18.67 on Tuesday. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $40.55. The stock’s 50-day moving average is $22.21 and its two-hundred day moving average is $22.57. The firm has a market cap of $7.50 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.42. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.42.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%.The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that Chewy will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. Harbour Investments Inc. increased its position in shares of Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Chewy during the fourth quarter worth approximately $34,000. Parallel Advisors LLC increased its holdings in shares of Chewy by 106.8% during the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 818 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company’s stock valued at $80,000 after acquiring an additional 1,716 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Chewy in the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.