Pet Valu (TSE:PET) Sets New 52-Week High on Analyst Upgrade

Shares of Pet Valu Holdings Ltd. (TSE:PET) hit a new 52-week high during trading on Thursday after Cormark upgraded the stock from a hold rating to a moderate buy rating. The stock traded as high as C$30.45 and last traded at C$30.36, with a volume of 20457 shares changing hands. The stock had previously closed at C$30.11.

A number of other equities research analysts have also commented on the stock. TD Securities upped their price objective on shares of Pet Valu from C$32.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Pet Valu from C$28.50 to C$33.00 and gave the company a “buy” rating in a research report on Wednesday. ATB Capital lifted their price objective on Pet Valu from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday. CIBC upped their target price on Pet Valu from C$29.00 to C$33.00 in a research report on Wednesday, March 5th. Finally, National Bankshares raised their target price on Pet Valu from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$34.33.

Pet Valu Price Performance

The firm has a market cap of C$2.14 billion, a P/E ratio of 24.78 and a beta of 0.81. The firm has a fifty day simple moving average of C$26.12 and a 200-day simple moving average of C$25.77.

Pet Valu Company Profile

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.