Chewy’s (CHWY) Hold Rating Reaffirmed at Raymond James

Raymond James restated their hold rating on shares of Chewy (NYSE:CHWY) in a research report released on Friday, TipRanks reports.

Several other research firms have also recently weighed in on CHWY. Jefferies Financial Group reiterated a buy rating and set a $30.00 price objective on shares of Amarin in a research report on Tuesday, July 9th. Bank of America restated a buy rating and issued a $43.00 price target (up from $36.00) on shares of The Medicines in a report on Tuesday, July 9th. JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They issued an underweight rating and a $20.48 price target for the company. William Blair assumed coverage on shares of Chewy in a report on Tuesday, July 9th. They issued an outperform rating for the company. Finally, Nomura raised their price target on shares of Advanced Micro Devices from $33.00 to $37.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Chewy presently has an average rating of Hold and a consensus target price of $36.90.

Shares of CHWY traded down $0.60 during trading hours on Friday, hitting $29.61. 5,290,890 shares of the stock were exchanged, compared to its average volume of 4,667,261. Chewy has a fifty-two week low of $29.03 and a fifty-two week high of $41.34.



Chewy (NYSE:CHWY) last posted its quarterly earnings data on Thursday, July 18th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business posted ($0.15) EPS. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, research analysts anticipate that Chewy will post -0.36 earnings per share for the current fiscal year.

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 47,875,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $20.90, for a total value of $1,000,587,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Susan Helfrick acquired 90,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $1,980,000.00. The disclosure for this purchase can be found here. Insiders acquired 152,500 shares of company stock worth $3,355,000 over the last ninety days.

Several institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC bought a new position in shares of Chewy during the second quarter valued at about $58,000. Meridian Wealth Management LLC bought a new position in shares of Chewy during the second quarter valued at about $64,000. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of Chewy during the second quarter valued at about $14,180,000.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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