Pet Valu (TSE:PET) Downgraded by Barclays to “Equal Weight”

Pet Valu (TSE:PET) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a report released on Wednesday,BayStreet.CA reports. They currently have a C$17.00 price objective on the stock, down from their previous price objective of C$28.00. Barclays‘s price objective indicates a potential downside of 2.52% from the company’s previous close.

A number of other equities research analysts also recently weighed in on PET. Stifel Nicolaus dropped their target price on Pet Valu from C$32.00 to C$23.00 and set a “buy” rating for the company in a report on Wednesday. TD Securities dropped their target price on Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Raymond James Financial dropped their target price on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a report on Wednesday, March 4th. National Bank Financial dropped their target price on Pet Valu from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. Finally, Desjardins dropped their target price on Pet Valu from C$38.00 to C$32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Price Performance

PET stock traded up C$0.44 during midday trading on Wednesday, reaching C$17.44. 372,558 shares of the company were exchanged, compared to its average volume of 221,750. The business has a 50-day moving average price of C$21.77 and a two-hundred day moving average price of C$26.55. Pet Valu has a one year low of C$16.58 and a one year high of C$39.24. The firm has a market capitalization of C$1.20 billion, a price-to-earnings ratio of 12.55 and a beta of 1.27.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. Pet Valu had a return on equity of 115.57% and a net margin of 8.32%.The company had revenue of C$287.94 million during the quarter. As a group, 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.