Cormark Downgrades Pet Valu (TSE:PET) to Hold

Pet Valu (TSE:PET) was downgraded by research analysts at Cormark from a “moderate buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports. Cormark also issued estimates for Pet Valu’s FY2024 earnings at $1.50 EPS, FY2025 earnings at $1.56 EPS, FY2026 earnings at $1.67 EPS and FY2027 earnings at $2.00 EPS.

Several other research analysts also recently weighed in on the stock. Barclays dropped their target price on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday. Raymond James cut their target price on Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday. Finally, TD Securities reduced their price objective on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a research report on Wednesday.

Pet Valu Stock Performance

Shares of PET opened at C$25.37 on Wednesday. Pet Valu has a 52 week low of C$23.58 and a 52 week high of C$32.90. The stock has a market capitalization of C$1.82 billion, a PE ratio of 22.25 and a beta of 0.81. The stock has a 50-day moving average of C$25.54.

Pet Valu (TSE:PET) last released its earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.35 by C$0.06. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. The company had revenue of C$276.03 million during the quarter, compared to analyst estimates of C$267.68 million. Equities research analysts forecast that Pet Valu will post 1.6820546 EPS for the current year.

Pet Valu Company Profile

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.