Robert W. Baird Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its price objective hoisted by equities researchers at Robert W. Baird from $35.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 17.47% from the stock’s previous close.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. Evercore ISI increased their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, Barclays raised their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.35.

Chewy Price Performance

CHWY opened at $34.05 on Monday. The firm’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $26.39. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm 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%. As a group, equities analysts anticipate that Chewy will post 0.32 EPS for the current year.

Insider Activity at Chewy

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

Institutional Investors Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy during the second quarter worth $11,916,000. Russell Investments Group Ltd. boosted its holdings in shares of Chewy by 27.7% during the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after purchasing an additional 18,768 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Chewy during the first quarter worth $334,000. Sanctuary Advisors LLC purchased a new position in shares of Chewy in the 2nd quarter worth $673,000. Finally, Eagle Asset Management Inc. raised its position in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.