Business

Petz profits soar, but stock drops more than 10%

Shares of Petz (PETZ3) are one of the biggest drops on the Stock Exchange (B3) this Friday (6), even after announcing a 57.7% higher profit in the first quarter of this year compared to the same period last year. .

The balance of results was announced yesterday. The chain of stores focused on products for animals had a net profit of R$ 21.1 million. Despite this, the shares fell 10.35%, at R$ 13.60, around 2 pm (Brasilia time)

If the company had good results, why are the shares plummeting on the stock market? experts heard by UOL explain and say if it’s time to invest in Petz.

Year-to-date, Petz’s shares (PETZ3) have a cumulative negative performance of 13.34%. In 12 months, the fall is much greater: 44.49%. Perhaps that’s what drives investors away from buying more of the company’s shares — and then selling them, leading to lower prices — according to analysts.

“The result was good. Interesting that Lojas Renner (LREN3) and espadrilles (ALPA4) — who are also from the retail sector — have released good results, but they are rising strongly”, says Pedro Galdi, an analyst at Mirae asset.

Petz had a 14.1% growth in sales in the same-store comparison. It also inaugurated ten units, seven of which are outside São Paulo.

To BTGthe action is a good opportunity, because Petz is exploring a large, high-growth market.

The bank recommends the purchase, believing that the paper can reach up to R$ 26 – which is the same value estimated by the XP Investimentos, which also advises investors to buy the stock.

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