PetIQ Inc (NASDAQ:PETQ) Receives Average Recommendation of “Buy” from Brokerages

PetIQ Inc (NASDAQ:PETQ) has been given a consensus rating of “Buy” by the eight analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $41.33.

A number of equities analysts have weighed in on PETQ shares. ValuEngine lowered shares of PetIQ from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of PetIQ from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Friday, August 9th. Guggenheim began coverage on shares of PetIQ in a report on Thursday, May 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Finally, BidaskClub downgraded shares of PetIQ from a “buy” rating to a “hold” rating in a report on Thursday.

In other news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $35.85, for a total value of $717,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 110,291 shares of company stock worth $3,436,491 in the last three months. Insiders own 23.79% of the company’s stock.



Several hedge funds have recently added to or reduced their stakes in the company. Waddell & Reed Financial Inc. lifted its holdings in shares of PetIQ by 11.4% in the second quarter. Waddell & Reed Financial Inc. now owns 1,780,931 shares of the company’s stock worth $58,699,000 after buying an additional 182,205 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of PetIQ by 9.4% in the second quarter. BlackRock Inc. now owns 1,546,873 shares of the company’s stock worth $50,984,000 after buying an additional 133,368 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of PetIQ by 4.5% in the second quarter. Wasatch Advisors Inc. now owns 1,129,495 shares of the company’s stock worth $37,228,000 after buying an additional 48,552 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of PetIQ by 1.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,090,000 shares of the company’s stock worth $35,926,000 after buying an additional 20,000 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of PetIQ by 32.1% in the second quarter. Janus Henderson Group PLC now owns 973,191 shares of the company’s stock worth $32,076,000 after buying an additional 236,405 shares in the last quarter. 89.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PETQ traded up $1.62 during mid-day trading on Friday, reaching $32.16. The stock had a trading volume of 608,800 shares, compared to its average volume of 513,241. The firm has a market cap of $907.56 million, a price-to-earnings ratio of 25.73, a PEG ratio of 1.20 and a beta of 2.06. PetIQ has a 12 month low of $21.29 and a 12 month high of $43.93. The business has a fifty day moving average of $34.16 and a 200 day moving average of $30.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.51 and a current ratio of 2.97.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.35. The business had revenue of $220.60 million during the quarter, compared to analyst estimates of $193.89 million. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, research analysts forecast that PetIQ will post 1.07 EPS for the current fiscal year.

PetIQ Company Profile

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes 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.

Featured Article: New Google Finance Tool and Screening Stocks

Analyst Recommendations for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.