Chewy (NYSE:CHWY) Stock Price Up 6.1% – Should You Buy?

Chewy (NYSE:CHWY) traded up 6.1% on Monday . The company traded as high as $21.51 and last traded at $21.6850. Approximately 1,993,724 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 8,519,829 shares. The stock had previously closed at $20.44.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Mizuho dropped their target price on shares of Chewy from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, September 4th. Citizens Jmp restated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday. Moffett Nathanson set a $28.00 price objective on Chewy in a research report on Thursday, June 11th. Finally, Morgan Stanley reduced their price objective on Chewy from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus price target of $30.64.

Chewy Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $8.85 billion, a PE ratio of 32.81, a PEG ratio of 0.81 and a beta of 1.42. The firm’s 50-day simple moving average is $22.43 and its two-hundred day simple moving average is $23.06.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.32 billion. Chewy had a return on equity of 60.88% and a net margin of 2.09%.The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, equities research analysts expect that Chewy will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the sale, the general counsel directly owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. This represents a 50.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of large investors have recently made changes to their positions in CHWY. Harbour Investments Inc. lifted its position in shares of Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Chewy during the second quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new position in Chewy in the 4th quarter valued at approximately $31,000. Modus Advisors LLC acquired a new position in Chewy in the 4th quarter valued at approximately $34,000. Finally, Parallel Advisors LLC lifted its position in Chewy by 106.8% in the 1st quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 818 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.