Canadian Imperial Bank of Commerce Issues Pessimistic Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET – Get Free Report) had its price objective cut by equities researchers at Canadian Imperial Bank of Commerce from C$28.00 to C$22.00 in a research report issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 26.15% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their target price on shares of Pet Valu from C$37.00 to C$32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada decreased their target price on shares of Pet Valu from C$33.00 to C$27.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Desjardins decreased their price target on shares of Pet Valu from C$38.00 to C$32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Raymond James Financial decreased their price target on shares of Pet Valu from C$40.00 to C$31.50 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Finally, TD Securities decreased their price target on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Pet Valu currently has a consensus rating of “Moderate Buy” and an average target price of C$24.56.

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Pet Valu Trading Up 2.6%

Shares of PET traded up C$0.44 during midday trading on Wednesday, hitting C$17.44. The stock had a trading volume of 372,558 shares, compared to its average volume of 221,750. Pet Valu has a fifty-two week low of C$16.58 and a fifty-two week high of C$39.24. The business has a 50-day simple moving average of C$21.77 and a two-hundred day simple moving average of C$26.55. The firm has a market cap of C$1.20 billion, a P/E ratio of 12.55 and a beta of 1.27.

Pet Valu (TSE:PET – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported C$0.31 EPS for the quarter. Pet Valu had a net margin of 8.32% and a return on equity of 115.57%. The company had revenue of C$287.94 million during the quarter. On average, analysts expect that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

About Pet Valu

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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.

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