Barclays Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its price objective increased by research analysts at Barclays from $34.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 21.43% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. TD Cowen started coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.45.

Chewy Stock Up 3.4 %

NYSE:CHWY opened at $32.94 on Monday. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The stock has a market cap of $13.77 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. The firm’s fifty day simple moving average is $29.67 and its 200-day simple moving average is $25.72.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Equities analysts anticipate that Chewy will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. boosted its stake in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at approximately $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at approximately $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy during the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.