PetSmart Receives Positive Rating from Wedbush (PETM)
PetSmart (NASDAQ:PETM)‘s stock had its “positive” rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Tuesday, Analyst Ratings Network reports.
The analysts wrote, “Maintain OUTPERFORM rating on this Best Ideas List Stock as we believe PetSmart still remains quite relevant and that the current valuation is attractive. Our bull thesis is driven by our belief that the company’s destination stores, combined with an improving online experience, best position the company versus competitors from both a bricks & mortar and online perspective. We believe pet owners will continue to be drawn to PETM’s entertaining one-stop-shopping experience with broad assortments, exclusive hot products, and convenient services. We are also bullish on the company’s organic growth opportunities and commitment to drive total shareholder returns. Finally, we believe valuation is attractive, especially utilizing peer group FCF multiples.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of PetSmart from $75.00 to $82.00 in a research note to investors on Friday, September 27th. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of PetSmart 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. Finally, analysts at Morgan Stanley raised their price target on shares of PetSmart 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, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. PetSmart currently has an average rating of “Hold” and a consensus price target of $74.92.
Shares of PetSmart (NASDAQ:PETM) traded down 0.84% on Tuesday, hitting $72.17. 617,212 shares of the company’s stock traded hands. PetSmart has a 52-week low of $61.30 and a 52-week high of $77.32. The stock’s 50-day moving average is $73.05 and its 200-day moving average is $70.16. The company has a market cap of $7.499 billion and a price-to-earnings ratio of 18.87.
PetSmart (NASDAQ:PETM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.89 earnings per share for the quarter, beating the analysts’ 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 prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts predict that PetSmart will post $3.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.20 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, October 30th. This is a positive change 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.