National Bank Financial Upgrades Pet Valu (TSE:PET) to “Outperform”

Pet Valu (TSE:PET) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Monday, BayStreet reports. The firm currently has a C$24.00 price objective on the stock, up from their prior price objective of C$23.00. National Bank Financial‘s target price indicates a potential upside of 13.15% from the stock’s previous close.

PET has been the topic of several other reports. Barclays upped their price target on shares of Pet Valu from C$17.00 to C$19.00 in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce upgraded shares of Pet Valu to a “strong-buy” rating in a research note on Wednesday, October 7th. Raymond James Financial downgraded shares of Pet Valu from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$21.00 to C$23.00 in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada decreased their target price on shares of Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$25.00.

Pet Valu Trading Up 6.3%

PET stock traded up C$1.26 during mid-day trading on Monday, hitting C$21.21. 517,617 shares of the company were exchanged, compared to its average volume of 211,133. Pet Valu has a 1-year low of C$16.58 and a 1-year high of C$35.74. The stock has a market capitalization of C$1.43 billion, a PE ratio of 14.83 and a beta of 1.01. The business has a 50 day simple moving average of C$18.58 and a 200-day simple moving average of C$21.04.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, August 11th. The company reported C$0.41 EPS for the quarter. The company had revenue of C$290.68 million for the quarter. Pet Valu had a return on equity of 110.16% and a net margin of 8.31%. Equities research analysts expect that Pet Valu will post 1.68 earnings per share for the current year.

About Pet Valu

Pet Valu is Canada’s leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For 50 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, an extensive product offering and engaging in-store services. Through its local neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of exclusive, holistic and award-winning proprietary brands.