Chewy (NYSE:CHWY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Chewy (NYSE:CHWY) had its price objective raised by Morgan Stanley from $33.00 to $36.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 2.86% from the stock’s current price.

CHWY has been the subject of several other reports. UBS Group increased their target price on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Royal Bank of Canada increased their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $40.00 in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.35.

Chewy Price Performance

Shares of CHWY stock opened at $35.00 on Monday. The company’s fifty day moving average price is $29.91 and its two-hundred day moving average price is $26.13. The firm has a market capitalization of $14.63 billion, a P/E ratio of 42.68, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10.

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

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

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

About Chewy

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.