Stifel Nicolaus Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price target dropped by investment analysts at Stifel Nicolaus from C$32.00 to C$23.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 31.88% from the company’s previous close.

PET has been the subject of a number of other reports. National Bank Financial lowered their target price on Pet Valu from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. Desjardins lowered their target price on Pet Valu from C$38.00 to C$32.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Barclays lowered their target price on Pet Valu from C$34.00 to C$28.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. TD Securities lowered their target price on Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Raymond James Financial lowered their target price on Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.56.

Pet Valu Stock Performance

TSE PET traded up C$0.44 during trading hours on Wednesday, reaching C$17.44. 372,558 shares of the company’s stock were exchanged, compared to its average volume of 221,750. The company’s 50-day moving average is C$21.77 and its two-hundred day moving average is C$26.55. Pet Valu has a one year low of C$16.58 and a one year high of C$39.24. The company has a market capitalization of C$1.20 billion, a price-to-earnings ratio of 12.55 and a beta of 1.27.

Pet Valu (TSE:PET) last posted its 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 115.57% and a net margin of 8.32%.The business had revenue of C$287.94 million during the quarter. Research analysts predict that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

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.