Chewy (NYSE:CHWY) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Chewy (NYSE:CHWY) had its price target hoisted by research analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $28.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential downside of 21.65% from the stock’s current price.

CHWY has been the subject of several other research reports. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $40.00 in a research report on Wednesday. UBS Group increased their price objective on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. TD Cowen began coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Finally, Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Chewy Stock Performance

Shares of CHWY stock opened at $35.74 on Friday. The firm has a fifty day moving average of $29.85 and a 200-day moving average of $25.85. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a market cap of $14.94 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 3.29 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, sell-side analysts predict that Chewy will post 0.32 earnings per share for the current year.

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new stake in Chewy in the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Chewy during the second quarter worth $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy in the 2nd quarter valued at about $48,000. Finally, Skylands Capital LLC acquired a new position in Chewy in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 93.09% 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. 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.