Chewy, Inc. (NYSE:CHWY) Receives Average Recommendation of "Moderate Buy" from Analysts

Chewy, Inc. (NYSE:CHWY - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $38.47.

Several equities research analysts have weighed in on the company. Mizuho boosted their price target on Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Barclays raised their price objective on Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Evercore ISI upgraded Chewy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Finally, JMP Securities cut their target price on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a research note on Monday, April 14th.

Chewy Stock Up 1.2 %

CHWY traded up $0.42 during midday trading on Tuesday, hitting $35.18. 4,897,067 shares of the company traded hands, compared to its average volume of 7,427,299. The company's 50-day moving average is $34.25 and its 200 day moving average is $33.58. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The firm has a market capitalization of $14.55 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. On average, sell-side analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 83,639 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at $13,368,720. The trade was a 20.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 9,285 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now owns 489,750 shares of the company's stock, valued at $19,590,000. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 551,303 shares of company stock worth $20,752,583. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. Parallel Advisors LLC grew its holdings in shares of Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after buying an additional 473 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Chewy in the 4th quarter worth approximately $30,000. Fifth Third Bancorp raised its holdings in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after acquiring an additional 444 shares during the last quarter. North Star Investment Management Corp. lifted its stake in shares of Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after purchasing an additional 320 shares during the last quarter. 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.