Royal Bank of Canada Forecasts Strong Price Appreciation for Pet Valu (TSE:PET) Stock

Pet Valu (TSE:PET) had its price objective raised by Royal Bank of Canada from C$34.00 to C$35.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential upside of 37.96% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on PET. Barclays decreased their price target on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday. Cibc World Mkts raised shares of Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th.

Pet Valu Stock Performance

PET opened at C$25.37 on Wednesday. The company has a market cap of C$1.82 billion, a P/E ratio of 22.25 and a beta of 0.81. The business’s 50-day moving average is C$25.54. Pet Valu has a 52-week low of C$23.58 and a 52-week high of C$32.90.

Pet Valu (TSE:PET) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.06. The business had revenue of C$276.03 million during the quarter, compared to analysts’ expectations of C$267.68 million. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. On average, research analysts predict 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.