PetSmart’s “Overweight” Rating Reaffirmed at Barclays (PETM)
PetSmart (NASDAQ:PETM)‘s stock had its “overweight” rating reiterated by stock analysts at Barclays in a report issued on Thursday. They currently have a $75.00 target price on the stock, up from their previous target price of $63.00. Barclays’ price objective indicates a potential upside of 6.35% from the company’s current price.
Other equities research analysts have also recently issued reports about 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 investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.65.
Shares of PetSmart (NASDAQ:PETM) traded down 1.30% during mid-day trading on Thursday, hitting $69.60. The stock had a trading volume of 369,986 shares. 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 $68.84 and its 200-day moving average is $65.44. The company has a market cap of $6.905 billion and a price-to-earnings ratio of 17.29. PetSmart also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 7,782 put options on the stock. This is an increase of 542% compared to the average volume of 1,213 put options.
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 $4.40 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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