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PetSmart (NASDAQ:PETM) saw some unusual options trading activity on Wednesday. Stock investors bought 7,782 put options on the stock, AnalystRatings.NET reports. This represents an increase of 542% compared to the average daily volume of 1,213 put options.

Several analysts have recently commented on the stock. Analysts at Telsey Advisory Group reiterated a “” rating on shares of PetSmart in a research note on Wednesday. They now have a $61.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of PetSmart in a research note on Wednesday. They now have a $71.00 price target on the stock. Finally, 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. PetSmart presently has an average rating of “Hold” and an average price target of $62.56.

PetSmart (NASDAQ:PETM) traded up 1.18% during mid-day trading on Wednesday, hitting $70.52. The stock had a trading volume of 3,826,476 shares. PetSmart has a 1-year low of $55.00 and a 1-year high of $77.32. The stock’s 50-day moving average is $68.32 and its 200-day moving average is $65.39. The company has a market cap of $6.996 billion and a P/E ratio of 17.09.

PetSmart (NASDAQ:PETM) last issued its quarterly earnings data on Tuesday, August 19th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.04. The company had revenue of $1.70 billion for the quarter. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts predict that PetSmart will post $4.32 earnings per share 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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