PetSmart Rating Lowered to Hold at Standpoint Research (PETM)
Shares of PetSmart (NASDAQ:PETM) traded up 1.09% during mid-day trading on Wednesday, hitting $69.50. 2,202,520 shares of the company’s stock traded hands. PetSmart has a 52-week low of $55.00 and a 52-week high of $77.32. The stock has a 50-day moving average of $59.40 and a 200-day moving average of $65.09. The company has a market cap of $6.895 billion and a P/E ratio of 16.85.
PetSmart (NASDAQ:PETM) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that PetSmart will post $4.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, July 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of PetSmart in a research note on Wednesday. They now have a $70.00 price target on the stock, up previously from $55.00. Separately, analysts at Bank of America reiterated an “underperform” rating on shares of PetSmart in a research note on Tuesday. They now have a $48.00 price target on the stock. Finally, analysts at Morgan Stanley upgraded shares of PetSmart from an “underweight” rating to an “equal weight” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. PetSmart currently has a consensus rating of “Hold” and an average target price of $59.40.
In other PetSmart news, SVP Erick Michael Goldberg sold 5,148 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $60.63, for a total value of $312,123.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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