Pet Valu (TSE:PET) Raised to “Strong-Buy” at TD Securities

Pet Valu (TSE:PET) was upgraded by investment analysts at TD Securities to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

PET has been the subject of a number of other research reports. National Bank Financial dropped their target price on Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Wednesday. Royal Bank Of Canada decreased their price target on Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Wednesday. ATB Cormark Capital Markets dropped their price objective on Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays downgraded shares of Pet Valu from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from C$28.00 to C$17.00 in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Pet Valu from C$28.00 to C$22.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$24.56.

Pet Valu Stock Performance

Shares of TSE:PET opened at C$17.67 on Thursday. The firm has a market capitalization of C$1.20 billion, a PE ratio of 12.90 and a beta of 1.27. Pet Valu has a 52-week low of C$16.58 and a 52-week high of C$39.24. The firm has a fifty day moving average of C$21.26 and a 200 day moving average of C$26.22.

Pet Valu (TSE:PET) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. Pet Valu had a return on equity of 117.77% and a net margin of 8.11%.The firm had revenue of C$287.94 million during the quarter. On average, sell-side analysts forecast that Pet Valu will post 1.6820546 EPS for the current fiscal year.

Insider Activity

In other news, Director Carmine Fortino bought 10,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of C$17.26 per share, for a total transaction of C$172,600.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at C$172,600. This trade represents a ∞ increase in their position. Corporate insiders own 0.29% of the company’s stock.

More Pet Valu News

Here are the key news stories impacting Pet Valu this week:

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

About Pet Valu

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.