Chewy, Inc. (NYSE:CHWY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $30.15.

CHWY has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Barclays upped their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Chewy in a research note on Friday, September 20th. TD Cowen assumed coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a research report on Thursday, August 29th.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the second quarter valued at approximately $33,000. Blue Trust Inc. raised its holdings in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy during the second quarter valued at approximately $44,000. First Horizon Advisors Inc. acquired a new stake in shares of Chewy during the second quarter valued at approximately $48,000. Finally, Skylands Capital LLC acquired a new stake in shares of Chewy during the second quarter valued at approximately $52,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 2.1 %

Shares of NYSE CHWY opened at $31.70 on Friday. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The business has a 50 day moving average price of $29.35 and a two-hundred day moving average price of $25.23. The firm has a market cap of $13.25 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, analysts anticipate that Chewy will post 0.32 earnings per share for the current year.

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.