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Shares of PetSmart (NASDAQ:PETM) were the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 11,877,023 shares, a decline of 16.9% from the July 15th total of 14,289,181 shares, Analyst Ratings Net reports. Based on an average daily volume of 1,418,501 shares, the short-interest ratio is presently 8.4 days. Currently, 12.1% of the shares of the stock are sold short.

A number of research firms have recently commented on PETM. Analysts at Zacks upgraded shares of PetSmart from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 22nd. They now have a $70.20 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “sell” rating on shares of PetSmart in a research note on Thursday, July 17th. They now have a $60.00 price target on the stock, up previously from $50.00. Finally, analysts at RBC Capital downgraded shares of PetSmart from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 17th. They now have a $66.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $61.72.

PetSmart (NASDAQ:PETM) opened at 68.56 on Tuesday. PetSmart has a 52-week low of $55.00 and a 52-week high of $77.32. The stock’s 50-day moving average is $67.07 and its 200-day moving average is $65.17. The company has a market cap of $6.802 billion and a price-to-earnings ratio of 16.62.

PetSmart (NASDAQ:PETM) last released its 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. Analysts expect that PetSmart will post $4.32 EPS for the current fiscal year.

PetSmart, Inc (NASDAQ:PETM) is a specialty provider of pet products and services in North America.

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