BidaskClub Upgrades PetIQ (NASDAQ:PETQ) to Hold

PetIQ (NASDAQ:PETQ) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, BidAskClub reports.

A number of other analysts have also recently commented on the stock. Raymond James restated a “buy” rating on shares of PetIQ in a research note on Wednesday, December 4th. Zacks Investment Research upgraded PetIQ from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PetIQ currently has an average rating of “Hold” and a consensus target price of $36.67.

Shares of PETQ traded up $0.82 during mid-day trading on Tuesday, hitting $31.32. The stock had a trading volume of 10,336 shares, compared to its average volume of 240,314. The firm has a market cap of $837.98 million, a P/E ratio of 24.75, a PEG ratio of 0.88 and a beta of 1.94. The business has a fifty day moving average price of $24.82 and a 200-day moving average price of $28.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.67 and a quick ratio of 1.45. PetIQ has a 52 week low of $21.28 and a 52 week high of $36.33.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.09. The business had revenue of $186.03 million for the quarter, compared to analysts’ expectations of $173.21 million. PetIQ had a positive return on equity of 9.77% and a negative net margin of 0.59%. As a group, research analysts expect that PetIQ will post 0.98 earnings per share for the current fiscal year.

In other news, CFO John Newland purchased 44,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $22.28 per share, with a total value of $980,320.00. Following the completion of the acquisition, the chief financial officer now owns 44,000 shares in the company, valued at approximately $980,320. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 23.79% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of PetIQ during the second quarter worth about $53,000. US Bancorp DE raised its position in shares of PetIQ by 461.5% during the 2nd quarter. US Bancorp DE now owns 2,246 shares of the company’s stock valued at $74,000 after buying an additional 1,846 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of PetIQ by 40.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,913 shares of the company’s stock valued at $216,000 after buying an additional 2,266 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of PetIQ by 19.2% during the 2nd quarter. LPL Financial LLC now owns 8,651 shares of the company’s stock worth $291,000 after acquiring an additional 1,391 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of PetIQ during the 2nd quarter worth $313,000. Institutional investors and hedge funds own 99.74% of the company’s stock.

About PetIQ

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.

Read More: Dividend Reinvestment Plan (DRIP)

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