Chewy (NYSE:CHWY) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Chewy (NYSE:CHWY) from a sell rating to a hold rating in a report issued on Wednesday morning, ValuEngine reports.

Other analysts also recently issued research reports about the company. Raymond James reaffirmed a hold rating on shares of Chewy in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on Chewy in a research report on Tuesday, July 9th. They issued an overweight rating and a $42.00 target price on the stock. Bank of America initiated coverage on Chewy in a research report on Tuesday, July 9th. They issued a buy rating and a $40.00 target price on the stock. Royal Bank of Canada initiated coverage on Chewy in a research report on Tuesday, July 9th. They issued a sector perform rating and a $37.00 target price on the stock. Finally, UBS Group initiated coverage on Chewy in a research report on Tuesday, July 9th. They issued a buy rating and a $42.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $36.82.

Shares of CHWY traded up $1.44 during midday trading on Wednesday, hitting $25.86. The stock had a trading volume of 1,759,367 shares, compared to its average volume of 3,147,297. The firm has a 50 day moving average of $29.63. Chewy has a twelve month low of $22.28 and a twelve month high of $41.34.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Tuesday, September 17th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned ($0.16) earnings per share. Chewy’s revenue for the quarter was up 43.1% on a year-over-year basis. Research analysts expect that Chewy will post -0.57 EPS for the current year.

In other Chewy news, Director James A. Star purchased 41,521 shares of Chewy stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average price of $23.94 per share, for a total transaction of $994,012.74. Also, Director Sharon Mccollam purchased 3,500 shares of Chewy stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $27.50 per share, with a total value of $96,250.00.

A number of institutional investors have recently bought and sold shares of CHWY. Advisor Group Inc. bought a new position in Chewy during the second quarter worth about $45,000. BNP Paribas Arbitrage SA bought a new stake in shares of Chewy during the second quarter worth approximately $54,000. Royal Bank of Canada bought a new stake in shares of Chewy during the second quarter worth approximately $56,000. Flagship Harbor Advisors LLC bought a new stake in shares of Chewy during the second quarter worth approximately $58,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Chewy during the second quarter worth approximately $64,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chewy (NYSE:CHWY)

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