Chewy (NYSE:CHWY) Now Covered by Royal Bank of Canada

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Equities research analysts at Royal Bank of Canada assumed coverage on shares of Chewy (NYSE:CHWY) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “sector perform” rating and a $37.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.84% from the stock’s current price.

A number of other analysts have also weighed in on CHWY. Bank of America restated a “buy” rating and set a $43.00 target price (up previously from $36.00) on shares of The Medicines in a report on Tuesday. Wedbush began coverage on Chewy in a report on Thursday, June 20th. They set a “neutral” rating for the company. UBS Group began coverage on Chewy in a report on Tuesday. They set a “buy” rating and a $42.00 price objective for the company. JPMorgan Chase & Co. began coverage on Pinduoduo in a report on Tuesday. They set an “underweight” rating and a $20.48 price objective for the company. Finally, William Blair began coverage on Chewy in a report on Tuesday. They set an “outperform” rating for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.44.

Chewy stock traded up $0.17 during mid-day trading on Tuesday, reaching $33.38. 1,592,164 shares of the company were exchanged, compared to its average volume of 4,823,988. Chewy has a 12-month low of $30.78 and a 12-month high of $41.34.

In other news, CEO Sumit Singh bought 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average cost of $22.00 per share, with a total value of $242,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Susan Helfrick bought 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $1,980,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 152,500 shares of company stock valued at $3,355,000.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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