PetIQ (NASDAQ:PETQ) Sets New 12-Month High at $30.68

Shares of PetIQ, Inc. (NASDAQ:PETQ) hit a new 52-week high on Monday . The stock traded as high as $30.68 and last traded at $30.67, with a volume of 204739 shares traded. The stock had previously closed at $30.55.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PETQ shares. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and increased their price target for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, PetIQ has an average rating of “Moderate Buy” and an average target price of $29.67.

PetIQ Stock Down 0.1 %

The stock has a market capitalization of $911.60 million, a PE ratio of 139.55 and a beta of 1.73. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The business’s fifty day moving average price is $26.15 and its two-hundred day moving average price is $21.36.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that PetIQ, Inc. will post 1.05 EPS for the current fiscal year.

Institutional Trading of PetIQ

Several large investors have recently made changes to their positions in PETQ. Swiss National Bank acquired a new position in PetIQ during the fourth quarter valued at $1,080,000. Natixis Advisors L.P. lifted its holdings in shares of PetIQ by 10.2% in the 4th quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock valued at $237,000 after buying an additional 1,113 shares during the period. Versor Investments LP purchased a new stake in shares of PetIQ in the fourth quarter worth about $310,000. Teacher Retirement System of Texas acquired a new stake in PetIQ during the fourth quarter worth about $680,000. Finally, Dimensional Fund Advisors LP grew its holdings in PetIQ by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock worth $21,461,000 after acquiring an additional 132,450 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.