| If you like to cuddle your dog or cat, you know the happiness pet ownership can bring. " Souers has boosted his 12-month target to $62 since the stock met his earlier price target of $55 a share. He increased his earnings estimate for fiscal 2013 (ending Jan. PetSmart posted industry-leading revenue of $5. 31) by 10 cents a share to $3. Ferrara notes that a whole new line of Martha Stewart cat care products has drawn a positive reaction, too. She also points out that PetSmart is scheduled to roll out Toys "R" Us cat care and toys this spring, followed by a collection of dog accessories by rock star Bret Michaels in summer. "We continue to favor the company's medium-term growth potential," says Michael Souers of Sy can get back in again. And PetSmart's dividend yield of 1. 3% is a treat, Ferrara says. For investors looking for a growth stock with a track record of steadily expanding sales and earnings, with a decent dividend kicker, PetSmart should be a top pick. 14 and set a forecast for 2014 of $3. 46. Spending is forecast to continue rising by about 5% to 6% a year over the next five years. About 71 million U. households own pets, including 94 million cats and 78 million dogs. Value Line ranks PetSmart as No. 1 in timeliness, the highest category in its stock-ranking system, which it attributes to the company's price and earnings momentum. 7 billion last year. The company had 1,187 stores in North America as of Jan. 31, 2011, and continues to open new ones, including 38 last year. "We think its high-margin services business -- such as grooming, Doggie Day camp, and overnight boarding service PetsHotel -- will likely increase customer loyalty and drive strong margin expansion for years to come. 66% ) have reason to be happy, too. The stock has been a phenomenal sprinter. Steadily rising since hitting a low of $13 in 2008, PetSmart has more than quadrupled, currently trading at close to $56 a share. 7 billion, according to the American Pet Products Association. The huge rise prompted some earlier investors to take profits, but that's OK. |
Tuesday, 6 March 2012
Pet Smart deserves a pat
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment