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PetSmart (NASDAQ:PETM) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 9,487,075 shares, a decline of 20.1% from the July 31st total of 11,877,023 shares, American Banking & Market News reports. Based on an average trading volume of 1,184,009 shares, the days-to-cover ratio is currently 8.0 days. Currently, 9.6% of the shares of the stock are short sold.

Several analysts have recently commented on the stock. Analysts at Goldman Sachs raised their price target on shares of PetSmart to $68.00 in a research note on Thursday, August 21st. Separately, analysts at Barclays reiterated an “overweight” rating on shares of PetSmart in a research note on Thursday, August 21st. They now have a $75.00 price target on the stock, up previously from $63.00. Finally, analysts at Telsey Advisory Group reiterated a “” rating on shares of PetSmart in a research note on Wednesday, August 20th. They now have a $61.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.02.

PetSmart (NASDAQ:PETM) opened at 71.57 on Tuesday. 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 $69.42 and a 200-day moving average of $65.78. The company has a market cap of $7.109 billion and a P/E ratio of 17.15.

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. On average, analysts predict that PetSmart will post $4.34 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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