PetIQ (PETQ) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

PetIQ (NASDAQ:PETQ) announced its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02, Fidelity Earnings reports. PetIQ had a return on equity of 11.39% and a net margin of 0.17%. The firm had revenue of $171.10 million during the quarter, compared to analysts’ expectations of $148.48 million. PetIQ’s revenue was up 96.2% on a year-over-year basis.

PetIQ stock traded up $6.22 during midday trading on Wednesday, hitting $34.50. 85,796 shares of the company were exchanged, compared to its average volume of 364,629. The firm has a market cap of $665.34 million and a price-to-earnings ratio of 85.80. PetIQ has a fifty-two week low of $17.03 and a fifty-two week high of $29.55. The company has a quick ratio of 1.09, a current ratio of 2.35 and a debt-to-equity ratio of 0.69.

In related news, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $27.14, for a total transaction of $542,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald Kennedy acquired 20,200 shares of the company’s stock in a transaction on Monday, May 21st. The stock was acquired at an average cost of $17.88 per share, for a total transaction of $361,176.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 102,000 shares of company stock worth $2,611,093. 45.26% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on the company. ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Jefferies Financial Group raised their price objective on PetIQ from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research raised PetIQ from a “sell” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, BidaskClub lowered PetIQ from a “hold” rating to a “sell” rating in a report on Friday, May 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. PetIQ presently has a consensus rating of “Buy” and an average target price of $28.33.

About PetIQ

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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