Royal Bank Of Canada Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its target price cut by analysts at Royal Bank Of Canada from C$27.00 to C$26.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 49.08% from the company’s current price.

A number of other equities research analysts also recently issued reports on PET. ATB Cormark Capital Markets reduced their price target on shares of Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price objective on Pet Valu from C$32.00 to C$23.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James Financial cut their price objective on Pet Valu from C$31.50 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays downgraded Pet Valu from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from C$28.00 to C$17.00 in a research report on Wednesday. Finally, TD Securities cut their price objective on Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Pet Valu presently has a consensus rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Price Performance

Shares of PET stock traded up C$0.44 during midday trading on Wednesday, reaching C$17.44. 372,558 shares of the company traded hands, compared to its average volume of 221,750. The firm’s 50 day simple moving average is C$21.77 and its two-hundred day simple moving average is C$26.55. Pet Valu has a 1-year low of C$16.58 and a 1-year high of C$39.24. The firm has a market cap of C$1.20 billion, a PE ratio of 12.55 and a beta of 1.27.

Pet Valu (TSE:PET) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. The company had revenue of C$287.94 million during the quarter. As a group, research analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

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.