UBS Maintains a 'Buy' on PetSmart (PETM); Solid overall 4Q’11 Results with A Couple Questions That Were Addressed
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Price: $82.98 --0%
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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UBS maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target raised $1 to $62.
UBS analyst says, "As PETM’s 4Q’11 press release hit, it was surprising to see the co’s EPS $0.91 only slightly exceed the consensus EPS forecast of $0.90 given its track record of surpassing this bench mark by an avg. of 8.5% since 2009. Similarly, the market has come to expect consistent gross margin expansion after 7 consecutive quarters of improvement, so the 20 bps of decline during 4Q seemed like an aberration."
"PETM’ s 5.5% comp (vs. our 4% est) was solid: We would also point out that PetSmart did not struggle for traffic during the quarter with a 2.9% increase, which represented a good sequential acceleration on a 2-and 3-year stacked basis." (UBS raises FY13 EPS from $3.07 to $3.12 and FY14 from $3.40 to $3.43)
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 $55.74 yesterday.
UBS analyst says, "As PETM’s 4Q’11 press release hit, it was surprising to see the co’s EPS $0.91 only slightly exceed the consensus EPS forecast of $0.90 given its track record of surpassing this bench mark by an avg. of 8.5% since 2009. Similarly, the market has come to expect consistent gross margin expansion after 7 consecutive quarters of improvement, so the 20 bps of decline during 4Q seemed like an aberration."
"PETM’ s 5.5% comp (vs. our 4% est) was solid: We would also point out that PetSmart did not struggle for traffic during the quarter with a 2.9% increase, which represented a good sequential acceleration on a 2-and 3-year stacked basis." (UBS raises FY13 EPS from $3.07 to $3.12 and FY14 from $3.40 to $3.43)
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 $55.74 yesterday.
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