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Several investment firms have updated their stock ratings and price targets on shares of PetSmart (NASDAQ: PETM) in the last week:

  • PetSmart was downgraded by analysts at Wolfe Research from a “market perform” rating to an “underperform” rating.
  • PetSmart had its “sell” rating reaffirmed by analysts at Deutsche Bank. They now have a $50.00 price target on the stock, down previously from $60.00.
  • PetSmart had its “overweight” rating reaffirmed by analysts at Barclays. They now have a $63.00 price target on the stock, down previously from $82.00.
  • PetSmart had its price target lowered by analysts at RBC Capital from $77.00 to $66.00. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • PetSmart had its price target lowered by analysts at Robert W. Baird from $71.00 to $62.00.
  • PetSmart had its price target lowered by analysts at Jefferies Group from $68.00 to $55.00. They now have a “hold” rating on the stock. They wrote, “Q2 results and guidance were unsettling to say the least as fears of increased competition become reality. Traffic has been under pressure with a tough consumer environment blamed in recent quarters, but today management signaled that internet competition and bricks & mortar are getting tougher, especially as premium food products get more points of distribution. Meanwhile the consumables reset has not produced expected results.”
  • PetSmart had its price target lowered by analysts at Telsey Advisory Group from $76.00 to $61.00. They now have a “not rated” rating on the stock.
  • PetSmart had its “underperform” rating reaffirmed by analysts at Bank of America. They now have a $48.00 price target on the stock.

PetSmart, Inc. (NASDAQ:PETM) traded up 0.31% during mid-day trading on Wednesday, hitting $55.83. The stock had a trading volume of 556,821 shares. PetSmart, Inc. has a one year low of $55.00 and a one year high of $77.32. The stock has a 50-day moving average of $65.40 and a 200-day moving average of $67.95. The company has a market cap of $5.539 billion and a P/E ratio of 13.65.

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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