PetIQ (NASDAQ:PETQ) Stock Rating Lowered by Zacks Investment Research

PetIQ (NASDAQ:PETQ) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “PetIQ, Inc. is a pet medication and wellness company. Its product consists of Rx Medications, OTC Medications and Supplies, Health and Wellness Products. The Company serves retail stores across the mass, club, grocery, pharmacy and e-commerce channels. PetIQ, Inc. is based in Eagle, United States. “

Several other research analysts also recently weighed in on the company. ValuEngine downgraded PetIQ from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub downgraded PetIQ from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.25.



Shares of PETQ stock opened at $27.02 on Wednesday. PetIQ has a 1-year low of $21.29 and a 1-year high of $36.33. The stock’s fifty day moving average price is $28.59 and its 200 day moving average price is $30.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 1.66. The company has a market cap of $774.13 million, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05.

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

In other PetIQ news, insider Will Santana sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $31.68, for a total transaction of $316,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 40,000 shares of company stock worth $1,357,200. Company insiders own 23.79% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in PetIQ by 5.2% during the 2nd quarter. Macquarie Group Ltd. now owns 72,605 shares of the company’s stock valued at $2,393,000 after purchasing an additional 3,562 shares during the last quarter. Boston Partners grew its stake in PetIQ by 1.3% during the 2nd quarter. Boston Partners now owns 100,206 shares of the company’s stock valued at $3,302,000 after purchasing an additional 1,266 shares during the last quarter. Atria Investments LLC purchased a new stake in PetIQ during the 2nd quarter valued at about $372,000. Hodges Capital Management Inc. grew its stake in PetIQ by 60.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 173,670 shares of the company’s stock valued at $5,724,000 after purchasing an additional 65,670 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in PetIQ during the 2nd quarter valued at about $12,569,000. Institutional investors and hedge funds own 91.72% 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.

Further Reading: Why do company’s buyback their stock?

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