PetIQ (NASDAQ:PETQ) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of PetIQ (NASDAQ:PETQ) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the company. Guggenheim began coverage on PetIQ in a research report on Thursday, May 23rd. They issued a buy rating and a $35.00 price target on the stock. ValuEngine cut PetIQ from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded PetIQ from a hold rating to a buy rating and set a $36.00 price target on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $41.33.

Shares of PETQ stock opened at $32.16 on Thursday. The stock has a market capitalization of $861.90 million, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.14 and a beta of 2.06. PetIQ has a 52-week low of $21.29 and a 52-week high of $43.93. The stock’s 50-day moving average price is $34.16 and its 200 day moving average price is $30.51. The company has a quick ratio of 1.51, a current ratio of 2.97 and a debt-to-equity ratio of 0.33.



PetIQ (NASDAQ:PETQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.35. The firm had revenue of $220.60 million for the quarter, compared to analysts’ expectations of $193.89 million. PetIQ had a return on equity of 10.17% and a net margin of 0.68%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Analysts expect that PetIQ will post 1.07 earnings per share for the current fiscal year.

In other PetIQ news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $35.85, for a total transaction of $717,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 110,291 shares of company stock worth $3,436,491 in the last quarter. 23.79% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PETQ. Manchester Capital Management LLC acquired a new position in PetIQ during the 1st quarter worth approximately $30,000. Bank of Montreal Can acquired a new position in PetIQ during the 2nd quarter worth approximately $53,000. FNY Investment Advisers LLC acquired a new position in PetIQ during the 1st quarter worth approximately $56,000. Legal & General Group Plc increased its position in PetIQ by 42.6% during the 4th quarter. Legal & General Group Plc now owns 2,451 shares of the company’s stock worth $58,000 after purchasing an additional 732 shares during the period. Finally, US Bancorp DE increased its position in PetIQ by 461.5% during the 2nd quarter. US Bancorp DE now owns 2,246 shares of the company’s stock worth $74,000 after purchasing an additional 1,846 shares during the period. Institutional investors own 89.80% of the company’s stock.

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.

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Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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