Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its price target increased by Deutsche Bank Aktiengesellschaft from $24.00 to $28.00 in a report published on Friday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

CHWY has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. TD Cowen started coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, UBS Group raised their price objective on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.35.

Chewy Price Performance

Shares of CHWY stock opened at $34.61 on Friday. The company’s fifty day simple moving average is $29.95 and its two-hundred day simple moving average is $26.26. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 3.36 and a beta of 1.06. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results 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 business 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%. Equities research analysts anticipate that Chewy will post 0.32 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Chewy

A number of large investors have recently made changes to their positions in CHWY. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy during the 2nd quarter worth $11,916,000. Russell Investments Group Ltd. boosted its position in Chewy by 27.7% during the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after purchasing an additional 18,768 shares during the period. Cetera Advisors LLC acquired a new stake in Chewy in the 1st quarter valued at $334,000. Sanctuary Advisors LLC purchased a new position in Chewy in the second quarter valued at about $673,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Chewy in the first quarter worth about $1,737,000. 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.