PetIQ (PETQ) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

PetIQ (NASDAQ:PETQ) issued its quarterly earnings results on Monday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01), Morningstar.com reports. PetIQ had a positive return on equity of 11.68% and a negative net margin of 0.12%. The company had revenue of $111.02 million for the quarter, compared to analysts’ expectations of $98.72 million. PetIQ updated its FY 2019 guidance to EPS and its FY 2023 guidance to EPS.

PetIQ stock opened at $26.22 on Wednesday. PetIQ has a 1-year low of $17.56 and a 1-year high of $43.93. The company has a market capitalization of $738.49 million, a P/E ratio of 67.23, a price-to-earnings-growth ratio of 1.38 and a beta of 2.35. The company has a quick ratio of 1.10, a current ratio of 2.51 and a debt-to-equity ratio of 0.49.

In related news, CFO John Newland sold 5,500 shares of PetIQ stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $29.00, for a total value of $159,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Will Santana sold 10,600 shares of PetIQ stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $23.53, for a total transaction of $249,418.00. The disclosure for this sale can be found here. Insiders sold a total of 165,500 shares of company stock valued at $4,592,734 over the last quarter. 45.26% of the stock is owned by company insiders.



A number of institutional investors have recently added to or reduced their stakes in PETQ. PNC Financial Services Group Inc. purchased a new position in PetIQ in the 4th quarter valued at approximately $10,332,000. BlackRock Inc. grew its stake in PetIQ by 46.5% in the 4th quarter. BlackRock Inc. now owns 1,343,674 shares of the company’s stock valued at $31,536,000 after buying an additional 426,190 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in PetIQ by 68.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 641,684 shares of the company’s stock valued at $15,060,000 after buying an additional 261,092 shares in the last quarter. Gabelli Funds LLC grew its stake in PetIQ by 260.1% in the 4th quarter. Gabelli Funds LLC now owns 294,025 shares of the company’s stock valued at $6,901,000 after buying an additional 212,375 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in PetIQ in the 3rd quarter valued at approximately $7,563,000. Institutional investors and hedge funds own 84.41% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of PetIQ from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. BidaskClub upgraded shares of PetIQ from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Raymond James decreased their price target on shares of PetIQ from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, November 14th. Jefferies Financial Group raised their price target on shares of PetIQ to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Finally, Zacks Investment Research lowered shares of PetIQ from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PetIQ has an average rating of “Buy” and an average price target of $40.83.

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About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company 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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Earnings History for PetIQ (NASDAQ:PETQ)

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