Pet Valu (TSE:PET) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Pet Valu (TSE:PET) to a strong-buy rating in a research note published on Wednesday,Zacks reports.

Several other research analysts have also commented on PET. Barclays boosted their price objective on Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. National Bank Financial lifted their target price on shares of Pet Valu from C$22.00 to C$23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada cut their price target on shares of Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Finally, Raymond James Financial lowered shares of Pet Valu from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$21.00 to C$23.00 in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$24.89.

Pet Valu Stock Performance

TSE:PET opened at C$18.68 on Wednesday. The firm has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 13.06 and a beta of 1.01. Pet Valu has a 52-week low of C$16.58 and a 52-week high of C$36.52. The stock has a fifty day moving average of C$18.55 and a 200 day moving average of C$19.13.

Pet Valu (TSE:PET) last announced its earnings results on Tuesday, August 11th. The company reported C$0.41 earnings per share for the quarter. Pet Valu had a return on equity of 110.16% and a net margin of 8.31%. The business had revenue of C$290.68 million for the quarter. Equities analysts forecast that Pet Valu will post 1.68 earnings per share for the current fiscal year.

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.