On tonight’s MAD MONEY on CNBC, Jim Cramer had his favorite pet-friendly stock pick for around the Westminster Dog Show as part of the network’s ongoing coverage of the event today. Cramer’s pick on Monday evening was PetSmart, Inc (NASDAQ: PETM) and this stock was already covered positively on CNBC today. Cramer liked the company’s move to pet motels and also the growth opportunity that exits along with its portfolio of many proprietary products which it sells exclusively at the PetSmart stores.
With other managers today touting that it has had years of same-store sales growth in good times and bad times, PetSmart already closed up 2.8% higher at $55.13 in regular trading. Then there was the Cramer bump-up for another 0.8% gain in the after-hours. Keep in mind that this coverage is already after the stock was at a 52-week high based upon the $37.76 to $54.96 range given.
Actually, make that an all-time high. With Thomson Reuters having an estimate of $3.00 EPS for January-2013, the stock closed with a value of 18.4-times next year’s expected earnings.
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