Chewy (NYSE:CHWY) Stock Rating Upgraded by Gordon Haskett

Posted by on Jun 3rd, 2023

Chewy (NYSE:CHWY – Get Rating) was upgraded by research analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a report released on Thursday, The Fly reports. The firm presently has a $40.00 price target on the stock. Gordon Haskett’s price target points to a potential upside of 12.64% from the company’s current price.

CHWY has been the subject of a number of other research reports. Evercore ISI dropped their price objective on Chewy from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, March 23rd. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Chewy in a research report on Monday, April 17th. Deutsche Bank Aktiengesellschaft lowered shares of Chewy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $41.00 to $35.00 in a research report on Thursday, March 23rd. JMP Securities initiated coverage on shares of Chewy in a research report on Tuesday, April 11th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Argus assumed coverage on shares of Chewy in a research report on Wednesday, April 19th. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.24.

Chewy Stock Performance

NYSE:CHWY opened at $35.51 on Thursday. The firm has a market capitalization of $15.16 billion, a PE ratio of 322.85 and a beta of 0.77. Chewy has a 52-week low of $26.47 and a 52-week high of $52.88. The stock has a 50-day simple moving average of $33.46 and a two-hundred day simple moving average of $38.79.

Chewy (NYSE:CHWY – Get Rating) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.28. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.64 billion. Chewy had a net margin of 0.51% and a return on equity of 46.99%. Equities analysts forecast that Chewy will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently modified their holdings of CHWY. FMR LLC raised its stake in shares of Chewy by 133,340.6% during the first quarter. FMR LLC now owns 1,760,081 shares of the company’s stock valued at $65,792,000 after acquiring an additional 1,758,762 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Chewy by 68.4% in the third quarter. Macquarie Group Ltd. now owns 2,381,129 shares of the company’s stock worth $73,148,000 after acquiring an additional 967,028 shares during the period. Brown Advisory Inc. boosted its position in Chewy by 16.5% during the 1st quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock valued at $250,887,000 after acquiring an additional 952,703 shares in the last quarter. Wellington Management Group LLP boosted its position in Chewy by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock valued at $218,969,000 after acquiring an additional 856,909 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Chewy by 36.5% during the 4th quarter. Marshall Wace LLP now owns 2,587,868 shares of the company’s stock valued at $95,958,000 after acquiring an additional 692,631 shares in the last quarter. Institutional investors own 99.05% of the company’s stock.

Chewy Company Profile

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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