Petsmart (PETM)

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PetSmart Now Covered by Standpoint Research (PETM)

Posted by Nolan Pearson on Jan 30th, 2014 // No Comments

Standpoint Research began coverage on shares of PetSmart (NASDAQ:PETM) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm issued a buy rating and a $76.00 target price on the stock.

PETM has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus downgraded shares of PetSmart from a buy rating to a hold rating in a research note to investors on Monday. Separately, analysts at Credit Suisse downgraded shares of PetSmart from an outperform rating to a neutral rating in a research note to investors on Wednesday, January 15th. Finally, analysts at UBS AG downgraded shares of PetSmart from a buy rating to a neutral rating in a research note to investors on Wednesday, January 15th. They now have a $72.00 price target on the stock, down previously from $82.00. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. PetSmart currently has a consensus rating of Hold and a consensus price target of $73.73.

PetSmart (NASDAQ:PETM) last issued its quarterly earnings data on Friday, November 22nd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.

PetSmart, Inc supplies products, services and solutions for the lifetime needs of pets. The Company operates a website for pet supplies, foods and different animal needs.
The Fly On The Wall
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http://www.wkrb13.com/markets/255029/petsmart-now-covered-by-standpoint-research-petm/

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