Chewy, Inc. (NYSE:CHWY) Receives $27.50 Average Price Target from Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $27.50.

A number of research analysts recently issued reports on CHWY shares. JMP Securities reiterated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Bank of America reduced their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada dropped their target price on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Chewy in a report on Thursday, March 21st. Finally, Jefferies Financial Group dropped their price objective on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 21st.

Chewy Trading Up 0.4 %

Shares of NYSE CHWY opened at $15.98 on Tuesday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.78. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 199.77, a price-to-earnings-growth ratio of 8.28 and a beta of 0.91. The firm has a 50 day moving average of $16.61 and a 200 day moving average of $18.51.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. Sell-side analysts predict that Chewy will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares in the company, valued at approximately $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the transaction, the chief executive officer now owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Insiders have sold 69,993 shares of company stock valued at $1,067,363 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Chewy during the third quarter worth $653,000. Exchange Traded Concepts LLC purchased a new stake in Chewy in the 3rd quarter valued at about $114,000. Handelsbanken Fonder AB grew its stake in Chewy by 2.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 33,199 shares of the company’s stock worth $606,000 after acquiring an additional 730 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Chewy by 77.0% during the third quarter. Commonwealth Equity Services LLC now owns 45,444 shares of the company’s stock worth $830,000 after acquiring an additional 19,768 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of Chewy by 94.1% during the third quarter. Pinnacle Associates Ltd. now owns 38,090 shares of the company’s stock valued at $696,000 after acquiring an additional 18,467 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Company Profile

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