PetSmart’s “Underperform” Rating Reaffirmed at Bank of America (PETM)
PetSmart (NASDAQ:PETM)‘s stock had its “underperform” rating restated by equities research analysts at Bank of America in a research note issued to investors on Friday. They currently have a $55.00 price target on the stock. Bank of America’s target price suggests a potential downside of 23.90% from the company’s current price.
PetSmart (NASDAQ:PETM) opened at 71.75 on Friday. PetSmart has a one year low of $55.00 and a one year high of $77.32. The stock’s 50-day moving average is $69.5 and its 200-day moving average is $65.95. The company has a market cap of $7.127 billion and a price-to-earnings ratio of 17.32. PetSmart also was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 9,487,075 shares, a decrease of 20.1% from the July 31st total of 11,877,023 shares. Approximately 9.6% of the company’s stock are short sold. Based on an average trading volume of 1,184,009 shares, the short-interest ratio is currently 8.0 days.
PetSmart (NASDAQ:PETM) last issued its quarterly earnings data 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 $4.34 EPS for the current fiscal year.
PETM has been the subject of a number of other recent research reports. 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 analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.60.
PetSmart, Inc (NASDAQ:PETM) is a specialty provider of pet products and services in North America.
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