Pet Valu (TSE:PET) Upgraded to Strong-Buy at Canadian Imperial Bank of Commerce

Pet Valu (TSE:PET) was upgraded by equities research analysts at Canadian Imperial Bank of Commerce to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Barclays upped their price target on shares of Pet Valu from C$17.00 to C$19.00 in a report on Wednesday, August 12th. Royal Bank Of Canada reduced their price objective on Pet Valu from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. National Bank Financial boosted their price objective on Pet Valu from C$22.00 to C$23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial downgraded Pet Valu from an “outperform” rating to a “market perform” rating and upped their target price for the stock from C$21.00 to C$23.00 in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$24.89.

Pet Valu Price Performance

PET stock opened at C$18.68 on Wednesday. The firm’s fifty day simple moving average is C$18.55 and its 200-day simple moving average is C$19.13. The company has a market capitalization of C$1.26 billion, a P/E ratio of 13.06 and a beta of 1.01. Pet Valu has a 12 month low of C$16.58 and a 12 month high of C$36.52.

Pet Valu (TSE:PET) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.41 earnings per share for the quarter. Pet Valu had a net margin of 8.31% and a return on equity of 110.16%. The firm had revenue of C$290.68 million for the quarter. As a group, sell-side analysts forecast that Pet Valu will post 1.68 earnings per share for the current 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.