Pet Valu (TSE:PET) Shares Climb 6.4% – Here’s What Happened

Pet Valu Holdings Ltd. (TSE:PET)’s share price was up 6.4% on Tuesday. The company traded as high as C$23.01 and last traded at C$22.90. Approximately 390,980 shares changed hands during trading, an increase of 83% from the average session volume of 213,962 shares. The stock had previously closed at C$21.52.

Key Stories Impacting Pet Valu

Investors following PET have been watching these stories:

• Positive Sentiment: National Bank Financial raised its target to C$28 and maintained an “outperform” rating; Stifel Nicolaus lifted its target to C$27 and kept a “buy” rating; RBC raised its target to C$27 with an “outperform” rating; and Desjardins increased its target to C$28 with a “buy” rating. National Bank Financial recommendations Stifel Nicolaus recommendations RBC recommendations Desjardins recommendations
• Neutral Sentiment: Raymond James raised its target from C$23 to C$24.50 but retained a “market perform” rating, signaling a more cautious view. Raymond James recommendations
• Neutral Sentiment: Pet Valu reported third-quarter results and held an earnings call described as showing growth amid pressure. The available coverage does not specify details that would indicate whether results beat or missed expectations. Third-quarter earnings results Earnings call highlights

Wall Street Analyst Weigh In

Several research firms have weighed in on PET. Canadian Imperial Bank of Commerce upgraded Pet Valu to a “strong-buy” rating in a research note on Wednesday, October 7th. Barclays lifted their price target on Pet Valu from C$17.00 to C$19.00 in a research note on Wednesday, August 12th. Royal Bank Of Canada boosted their price target on Pet Valu from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James Financial upped their price objective on Pet Valu from C$23.00 to C$24.50 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their price objective on Pet Valu from C$23.00 to C$27.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Pet Valu has a consensus rating of “Buy” and an average price target of C$26.61.

Pet Valu Stock Performance

The stock’s fifty day simple moving average is C$19.08 and its two-hundred day simple moving average is C$20.75. The stock has a market capitalization of C$1.54 billion, a P/E ratio of 16.01 and a beta of 1.16.

Pet Valu (TSE:PET) last released its quarterly earnings results on Tuesday, November 10th. The company reported C$0.44 earnings per share (EPS) for the quarter. The firm had revenue of C$299.52 million during the quarter. Pet Valu had a net margin of 8.36% and a return on equity of 107.77%. As a group, analysts expect that Pet Valu Holdings Ltd. will post 1.68 earnings per share for the current fiscal year.

Pet Valu Company Profile

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.