Carmine Fortino Acquires 10,000 Shares of Pet Valu (TSE:PET) Stock

Pet Valu Holdings Ltd. (TSE:PET) Director Carmine Fortino bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of C$17.26 per share, with a total value of C$172,600.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately C$172,600. The trade was a ? increase in their position.

Pet Valu Price Performance

TSE:PET traded down C$0.49 during mid-day trading on Thursday, reaching C$17.16. The company’s stock had a trading volume of 331,423 shares, compared to its average volume of 224,865. The stock has a market cap of C$1.18 billion, a P/E ratio of 12.35 and a beta of 1.27. The company’s fifty day simple moving average is C$21.56 and its two-hundred day simple moving average is C$26.42. Pet Valu Holdings Ltd. has a twelve month low of C$16.58 and a twelve month high of C$39.24.

Pet Valu (TSE:PET) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. The business had revenue of C$287.94 million for the quarter. Sell-side analysts expect that Pet Valu Holdings Ltd. will post 1.6820546 EPS for the current fiscal year.

Pet Valu News Roundup

Here are the key news stories impacting Pet Valu this week:

• Neutral Sentiment: Several brokerages adjusted their views on Pet Valu, including new price targets from Desjardins (C$26), Stifel Nicolaus (C$23), Royal Bank of Canada (C$26), and CIBC (C$22), while ATB Cormark cut its target to C$30 and National Bank Financial lowered its target to C$22. Article Title
• Negative Sentiment: Barclays downgraded Pet Valu (TSE:PET) to Equal Weight and sharply reduced its price target to C$17, signaling less enthusiasm for the stock’s near-term upside. Article Title
• Negative Sentiment: The company also reported first-quarter profit down from a year ago and trimmed its profit outlook, reinforcing concerns that earnings momentum may be slowing. Article Title

Analyst Ratings Changes

A number of analysts have recently commented on PET shares. Barclays downgraded Pet Valu from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from C$28.00 to C$17.00 in a report on Wednesday. Desjardins lowered their price target on Pet Valu from C$32.00 to C$26.00 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 on the stock in a report on Wednesday. ATB Cormark Capital Markets reduced their price objective on Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, National Bank Financial dropped their target price on shares of Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$24.56.

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.