Chewy (NYSE:CHWY) Hits New 1-Year Low at $22.16

Chewy Inc (NYSE:CHWY)’s share price hit a new 52-week low on Monday . The stock traded as low as $22.16 and last traded at $22.26, with a volume of 1215244 shares. The stock had previously closed at $23.40.

Several research analysts have recently weighed in on CHWY shares. Barclays boosted their target price on Chewy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 18th. Zacks Investment Research upgraded Chewy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Tuesday, August 20th. Credit Suisse Group initiated coverage on shares of Chewy in a research report on Monday, November 11th. They set an “outperform” rating and a $29.00 price target on the stock. Wedbush set a $30.00 price target on shares of Chewy and gave the company a “hold” rating in a research report on Wednesday, September 18th. Finally, ValuEngine raised shares of Chewy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.17.

The company’s 50-day moving average is $25.48.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC acquired a new stake in shares of Chewy in the third quarter valued at approximately $25,000. Wealthcare Advisory Partners LLC boosted its holdings in shares of Chewy by 175.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,650 shares of the company’s stock worth $41,000 after buying an additional 1,050 shares during the period. Creative Planning boosted its holdings in shares of Chewy by 9.0% during the 3rd quarter. Creative Planning now owns 12,929 shares of the company’s stock worth $318,000 after buying an additional 1,071 shares during the period. Advisor Group Inc. bought a new stake in shares of Chewy during the 2nd quarter worth $45,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Chewy during the 2nd quarter worth $54,000. 99.45% of the stock is currently owned by institutional investors.

About Chewy (NYSE:CHWY)

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.

Further Reading: G-20

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