PetSmart’s Equal Weight Rating Reaffirmed at Morgan Stanley (PETM)
PetSmart (NASDAQ:PETM)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They currently have a $71.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 1.87% from the stock’s previous close.
The analysts wrote, “Modestly better earnings, maintained guidance, performance enhancement plans and the exploration of strategic alternatives should lift the stock tomorrow and keep a floor underneath it in the near term.”
A number of other analysts have also recently weighed in 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 analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.56.
PetSmart (NASDAQ:PETM) opened at 69.70 on Wednesday. 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 $6.915 billion and a price-to-earnings ratio of 16.78.
PetSmart (NASDAQ:PETM) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 1.4% 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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