Chewy (NYSE:CHWY) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Chewy (NYSE:CHWY) had its price target raised by equities researchers at Deutsche Bank Aktiengesellschaft from $24.00 to $28.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 19.75% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Royal Bank of Canada lifted their target price on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird boosted their price objective on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. UBS Group raised their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. TD Cowen initiated coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.65.

Chewy Stock Down 2.7 %

Shares of CHWY opened at $34.89 on Friday. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 42.55, a price-to-earnings-growth ratio of 3.46 and a beta of 1.06. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a 50 day moving average price of $29.91 and a 200 day moving average price of $26.06.

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

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter valued at about $33,000. Blue Trust Inc. boosted its holdings in shares of Chewy by 183.6% in the third 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 period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the second quarter worth $44,000. First Horizon Advisors Inc. bought a new stake in shares of Chewy during the second quarter worth $48,000. Finally, Skylands Capital LLC bought a new stake in Chewy in the 2nd quarter valued at $52,000. 93.09% of the stock is owned by institutional investors.

About Chewy

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.