PetSmart Stock Rating Reaffirmed by Barclays (PETM)
PetSmart (NASDAQ:PETM)‘s stock had its “buy” rating restated by Barclays in a research note issued on Friday, StockRatingsNetwork reports. They currently have a $82.00 target price on the stock. Barclays’ price objective indicates a potential upside of 13.57% from the company’s current price.
PetSmart (NASDAQ:PETM) traded up 0.47% during mid-day trading on Friday, hitting $72.20. 1,632,345 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 has a 50-day moving average of $73.25 and a 200-day moving average of $70.28. The company has a market cap of $7.502 billion and a price-to-earnings ratio of 18.64.
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 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. Analysts expect that PetSmart will post $3.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Investors 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 1.08%. The ex-dividend date is Wednesday, October 30th. This is an increase from PetSmart’s previous quarterly dividend of $0.17.
A number of other analysts have also recently weighed in on PETM. Analysts at RBC Capital cut their price target on shares of PetSmart from $85.00 to $81.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Wedbush reiterated a “positive” rating on shares of PetSmart in a research note to investors on Tuesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $74.92.
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.
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