Carmine Fortino Buys 10,000 Shares of Pet Valu (TSE:PET) Stock

Pet Valu Holdings Ltd. (TSE:PET – Get Free Report) Director Carmine Fortino acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of C$17.26 per share, for a total transaction of C$172,600.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at approximately C$172,600. This represents a ∞ increase in their ownership of the stock.

Pet Valu Price Performance

PET stock opened at C$17.67 on Friday. The stock has a market capitalization of C$1.20 billion, a PE ratio of 12.90 and a beta of 1.27. The company’s 50-day moving average is C$21.26 and its 200-day moving average is C$26.22. Pet Valu Holdings Ltd. has a 1 year low of C$16.58 and a 1 year high of C$39.24.

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Pet Valu (TSE:PET – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. The company had revenue of C$287.94 million for the quarter. Pet Valu had a net margin of 8.11% and a return on equity of 117.77%. On average, analysts anticipate that Pet Valu Holdings Ltd. will post 1.6820546 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Securities raised shares of Pet Valu to a “strong-buy” rating in a research report on Thursday. Canadian Imperial Bank of Commerce cut their price objective on shares of Pet Valu from C$28.00 to C$22.00 in a research report on Wednesday. Barclays cut shares of Pet Valu from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from C$28.00 to C$17.00 in a research report on Wednesday. National Bank Financial cut their price objective on shares of Pet Valu from C$27.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada lowered their target price on shares of Pet Valu from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$24.56.

Read Our Latest Report on PET

Key Headlines Impacting Pet Valu

Here are the key news stories impacting Pet Valu this week:

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

About Pet Valu

(Get Free Report)

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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