Pet Valu (TSE:PET) Stock Price Down 3.6% - Here's What Happened

Shares of Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) were down 3.6% during trading on Friday . The stock traded as low as C$25.90 and last traded at C$26.06. Approximately 52,191 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 63,273 shares. The stock had previously closed at C$27.02.

Wall Street Analysts Forecast Growth

PET has been the topic of a number of recent analyst reports. TD Securities increased their price target on Pet Valu from C$30.00 to C$32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Barclays increased their target price on Pet Valu from C$27.00 to C$32.00 in a research report on Wednesday, March 5th. Stifel Nicolaus lifted their price target on Pet Valu from C$27.50 to C$28.50 in a report on Wednesday, March 5th. Finally, CIBC boosted their target price on shares of Pet Valu from C$29.00 to C$33.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pet Valu has a consensus rating of "Buy" and an average price target of C$32.42.

Pet Valu Price Performance

The business's 50-day simple moving average is C$25.31 and its two-hundred day simple moving average is C$25.63. The stock has a market capitalization of C$1.83 billion, a price-to-earnings ratio of 21.26 and a beta of 0.81.

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.