Pet Valu (TSE:PET) Cut to “Market Perform” at Raymond James Financial

Raymond James Financial cut shares of Pet Valu (TSE:PET) from an outperform rating to a market perform rating in a research report released on Wednesday morning,BayStreet.CA reports. The firm currently has C$23.00 target price on the stock, up from their previous target price of C$21.00.

Several other research analysts have also issued reports on PET. Royal Bank Of Canada cut their price target on Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. National Bank Financial boosted their price objective on Pet Valu from C$22.00 to C$23.00 and gave the company a “sector perform” rating in a report on Wednesday. TD Securities raised Pet Valu to a “strong-buy” rating in a research report on Thursday, May 21st. Barclays cut Pet Valu from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from C$28.00 to C$17.00 in a report on Wednesday, May 13th. Finally, Desjardins reduced their price target on shares of Pet Valu from C$32.00 to C$26.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pet Valu currently has an average rating of “Moderate Buy” and an average target price of C$24.89.

Pet Valu Price Performance

PET stock opened at C$19.80 on Wednesday. The stock has a market capitalization of C$1.33 billion, a PE ratio of 13.85 and a beta of 1.14. The company’s 50-day moving average is C$18.84 and its 200-day moving average is C$21.48. Pet Valu has a 1 year low of C$16.58 and a 1 year high of C$39.24.

Pet Valu (TSE:PET) last issued its earnings results on Tuesday, August 11th. The company reported C$0.37 EPS for the quarter. Pet Valu had a return on equity of 110.16% and a net margin of 8.31%.The business had revenue of C$290.68 million during the quarter. On average, analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

Insider Buying and Selling at Pet Valu

In other Pet Valu news, insider Gregory Mark Ramier bought 2,800 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of C$17.89 per share, for a total transaction of C$50,092.00. Following the acquisition, the insider directly owned 2,800 shares of the company’s stock, valued at approximately C$50,092. The trade was a ? increase in their position. 0.29% of the stock is owned by corporate insiders.

Pet Valu Company Profile

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.