Nomura Downgrades PetSmart to a “Reduce” Rating (PETM)
Analysts at Nomura Securities on Monday downgraded pet supply retailer PetSmart, Inc. (PETM).
The firm has lowered their rating on PETM from “Neutral” to “Reduce,” and has given the company a $55 price target. This price target suggests a -19.5% decline from the stock’s current price of $65.76.
Although the company received a negative outlook from Normura, PETM is seen postively at both Barclays and Deutsche Bank. Analysts at Barclays upgraded PETM from an “Equal Weight” to an “Overweight” in November. Deutsche Bank analysts raised their price target for the company in November to $71, which would be a 7% to the stock’s current price.
Currently, the stock is rated as a “Buy” by nine analysts, and “Overweight” by two analysts. Fifteen analysts have “Hold” ratings on the company. The stock currently has an average price target of $75.18.
PetSmart shares were down -$4.48, or -6.40% during Monday morning trading. The stock has increased 23% in the past year.
The Bottom Line
Shares of PetSmart, Inc.(PETM) offer a 1.01% dividend yield, based on Friday’s closing stock price of $69.99.
PetSmart, Inc.(PETM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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