Chewy (NYSE:CHWY) Stock Has Average Target Price of $30.45

Shares of Chewy (NYSE:CHWY) have earned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $30.45.

CHWY has been the topic of several analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a research note on Thursday, September 10th. Mizuho lowered their target price on Chewy from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, September 29th. Rosenblatt Securities lowered their target price on Chewy from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 10th. Citigroup reaffirmed a “market outperform” rating on shares of Chewy in a report on Thursday, September 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, September 10th.

Chewy Trading Down 1.6%

NYSE CHWY traded down $0.35 on Friday, hitting $20.96. The company’s stock had a trading volume of 7,678,945 shares, compared to its average volume of 9,395,786. The company has a quick ratio of 0.42, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. Chewy has a 1-year low of $17.40 and a 1-year high of $38.25. The company’s 50-day moving average is $21.23 and its 200 day moving average is $22.01. The firm has a market cap of $8.43 billion, a PE ratio of 31.76, a PEG ratio of 0.89 and a beta of 1.38.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.32 billion. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. As a group, analysts predict that Chewy will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, CAO William G. Billings sold 17,283 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $21.00, for a total transaction of $362,943.00. Following the completion of the transaction, the chief accounting officer directly owned 39,772 shares in the company, valued at $835,212. This trade represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

Institutional Trading of Chewy

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in Chewy by 106.8% during the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 818 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company’s stock valued at $80,000 after buying an additional 1,716 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Chewy by 25.0% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company’s stock valued at $122,000 after buying an additional 900 shares during the period. Globeflex Capital L P acquired a new position in Chewy in the second quarter valued at $109,000. Finally, GAMMA Investing LLC boosted its position in Chewy by 157.1% during the third quarter. GAMMA Investing LLC now owns 5,721 shares of the company’s stock valued at $104,000 after acquiring an additional 3,496 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile application, the company sells food, treats, toys, supplies, accessories and other products for dogs, cats, fish, birds, reptiles and small pets.

The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.

Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.