Barclays Stays Positive on PetSmart (PETM) After Meeting with Management Increases Confidence in Strong Outlook
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Price: $68.89 -0.49%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade PETM Now!
Barclays maintains an 'Equalweight' on PetSmart (NASDAQ: PETM) price target of $60.00.
Analyst, Alan M. Rifkin, said, "We positively view management's focus on driving innovation and newness through ongoing store resets, broader assortments, product partnerships and expanding SKU count online."
Rifkin said he is very encouraged after meeting with COO and CFO of PetSmart, admires the company's capital strategy (which is very disciplined) and expects PETM to raise its dividend and/or approve a new stock buyback.
Barclays maintains FY12 EPS estimate of $3.30, 2013 of $3.60 and FY14 of $4.10.
For an analyst ratings summary and ratings history on PetSmart click here. For more ratings news on PetSmart click here.
Shares of PetSmart closed at $66.63 yesterday, with a 52 week range of $37.76-$66.63.
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Analyst, Alan M. Rifkin, said, "We positively view management's focus on driving innovation and newness through ongoing store resets, broader assortments, product partnerships and expanding SKU count online."
Rifkin said he is very encouraged after meeting with COO and CFO of PetSmart, admires the company's capital strategy (which is very disciplined) and expects PETM to raise its dividend and/or approve a new stock buyback.
Barclays maintains FY12 EPS estimate of $3.30, 2013 of $3.60 and FY14 of $4.10.
For an analyst ratings summary and ratings history on PetSmart click here. For more ratings news on PetSmart click here.
Shares of PetSmart closed at $66.63 yesterday, with a 52 week range of $37.76-$66.63.
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