Chewy (NYSE:CHWY) Price Target Raised to $36.00

Chewy (NYSE:CHWY) had its target price boosted by Morgan Stanley from $33.00 to $36.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 2.86% from the company’s current price.

Several other analysts also recently issued reports on the company. Barclays boosted their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. TD Cowen started coverage on shares of Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. UBS Group boosted their target price on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Price Performance

CHWY stock opened at $35.00 on Monday. The firm has a market cap of $14.63 billion, a PE ratio of 42.68, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a 50 day simple moving average of $29.91 and a 200 day simple moving average of $26.13.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, sell-side analysts expect that Chewy will post 0.32 earnings per share for the current year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the second quarter worth $33,000. Blue Trust Inc. grew its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Chewy in the 2nd quarter worth $44,000. First Horizon Advisors Inc. acquired a new position in Chewy during the 2nd quarter worth $48,000. Finally, Skylands Capital LLC bought a new stake in Chewy during the second quarter valued at about $52,000. Institutional investors own 93.09% of the company’s stock.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It 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 retail websites and mobile applications.