PetSmart PT Raised to $82.00 at Barclays Capital (PETM)
Investment analysts at Barclays Capital boosted their price target on shares of PetSmart (NASDAQ:PETM) from $75.00 to $82.00 in a note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price target indicates a potential upside of 7.02% from the stock’s previous close.
A number of other firms have also recently commented on PETM. Analysts at UBS AG raised their price target on shares of PetSmart (NASDAQ:PETM) from $79.00 to $82.00 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of PetSmart (NASDAQ:PETM) from $81.00 to $82.00 in a research note to investors on Monday, August 12th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $74.92.
In other PetSmart news, CEO David Lenhardt sold 27,521 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $73.61, for a total value of $2,025,820.81. Following the completion of the sale, the chief executive officer now directly owns 10,595 shares of the company’s stock, valued at approximately $779,898. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of PetSmart (NASDAQ:PETM) traded up 2.79% during mid-day trading on Friday, hitting $76.62. The stock had a trading volume of 1,687,519 shares. PetSmart has a one year low of $61.30 and a one year high of $75.15. The stock’s 50-day moving average is $72.57 and its 200-day moving average is $68.9. The company has a market cap of $7.961 billion and a price-to-earnings ratio of 19.33.
PetSmart (NASDAQ:PETM) last announced its earnings results on Wednesday, August 21st. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.83. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.20 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Wednesday, October 30th. This is an increase from PetSmart’s previous quarterly dividend of $0.17.
PetSmart, Inc supplies products, services and solutions for the lifetime needs of pets. The Company operates a website for pet supplies, foods and different animal needs.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.