Wedbush Reiterates Outperform Rating for Chewy (NYSE:CHWY)

Chewy (NYSE:CHWY)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued on Thursday, Marketbeat reports. They currently have a $35.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 22.59% from the company’s previous close.

A number of other brokerages have also recently issued reports on CHWY. Deutsche Bank Aktiengesellschaft upped their target price on Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Citigroup raised their target price on shares of Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Needham & Company LLC upped their price target on shares of Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada raised their price objective on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Argus lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Chewy has an average rating of “Moderate Buy” and a consensus target price of $29.43.

Chewy Trading Down 0.5 %

Shares of Chewy stock opened at $28.55 on Thursday. The company has a fifty day simple moving average of $25.62 and a 200-day simple moving average of $20.47. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 157.39, a PEG ratio of 3.48 and a beta of 1.03. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. On average, analysts forecast that Chewy will post 0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,906,141 shares of company stock worth $540,973,233. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. purchased a new stake in Chewy in the 2nd quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Chewy in the second quarter valued at $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy in the second quarter valued at $48,000. Skylands Capital LLC acquired a new stake in shares of Chewy during the second quarter valued at $52,000. Finally, Quest Partners LLC purchased a new stake in Chewy during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

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.