Canadian Imperial Bank of Commerce Cuts Pet Valu (TSE:PET) Price Target to C$22.00

Pet Valu (TSE:PET) had its price target cut by Canadian Imperial Bank of Commerce from C$28.00 to C$22.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on PET. 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 research report on Wednesday, March 4th. Stifel Nicolaus dropped their target price on Pet Valu from C$37.00 to C$32.00 and set a “buy” rating for the company in a research 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 research report on Friday, April 24th. Barclays dropped their target price on Pet Valu from C$34.00 to C$28.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Finally, Desjardins decreased their price objective on Pet Valu from C$38.00 to C$32.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$24.56.

Pet Valu Stock Up 2.9%

PET stock opened at C$17.67 on Wednesday. The company has a market cap of C$1.20 billion, a P/E ratio of 12.90 and a beta of 1.27. Pet Valu has a twelve month low of C$16.58 and a twelve month high of C$39.24. The business has a fifty day moving average of C$21.26 and a 200-day moving average of C$26.22.

Pet Valu (TSE:PET) last released its earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$287.94 million during the quarter. Pet Valu had a return on equity of 117.77% and a net margin of 8.11%. As a group, equities research analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

Insider Activity at Pet Valu

In related news, Director Carmine Fortino acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost 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 in the company, valued at approximately C$172,600. This trade represents a ? increase in their ownership of the stock. 0.29% of the stock is currently owned by company insiders.

Trending Headlines about Pet Valu

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

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

About Pet Valu

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.