UBS AG Raises Price Target on Petsmart (PETM)
Investment analysts at UBS AG (NYSE: UBS) boosted their target price on shares of Petsmart (NASDAQ: PETM) from $64.00 to $67.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock.
Shares of Petsmart opened at 62.92 on Wednesday. Petsmart has a 52 week low of $37.76 and a 52 week high of $63.19. The company has a market cap of $6.914 billion and a P/E ratio of 24.67.
Petsmart last announced its earnings results on Tuesday, May 22nd. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.12. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts predict that Petsmart will post $0.60 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase (NYSE: JPM) raised their price target on shares of Petsmart from $54.00 to $62.00 in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Petsmart from $56.00 to $61.00 in a research note to investors on Wednesday. Finally, analysts at Bank of America (NYSE: BAC) raised their price target on shares of Petsmart to $68.00 in a research note to investors on Wednesday.
PetSmart, Inc. (PetSmart) is a specialty provider of products, services and solutions for the lifetime needs of pets.