PetMed Express (NASDAQ:PETS) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of PetMed Express (NASDAQ:PETS) from a hold rating to a buy rating in a research note released on Tuesday morning.

Separately, Lake Street Capital restated a “hold” rating and set a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th.

PetMed Express Stock Performance

NASDAQ:PETS opened at $4.70 on Tuesday. The stock has a 50 day moving average price of $4.04 and a 200 day moving average price of $3.93. The stock has a market cap of $97.10 million, a PE ratio of -78.33 and a beta of 0.68. PetMed Express has a one year low of $2.90 and a one year high of $7.93.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.17. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. The firm had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $66.02 million. As a group, analysts predict that PetMed Express will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at PetMed Express

In other news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $3.34 per share, for a total transaction of $41,750.00. Following the completion of the purchase, the insider now directly owns 2,078,000 shares of the company’s stock, valued at approximately $6,940,520. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On PetMed Express

Several institutional investors and hedge funds have recently modified their holdings of PETS. Federated Hermes Inc. boosted its holdings in PetMed Express by 54.5% during the 2nd quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after acquiring an additional 213,903 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of PetMed Express during the second quarter worth about $797,000. Bleakley Financial Group LLC purchased a new position in shares of PetMed Express in the third quarter valued at approximately $279,000. Squarepoint Ops LLC acquired a new position in shares of PetMed Express in the second quarter valued at approximately $273,000. Finally, Price T Rowe Associates Inc. MD increased its stake in PetMed Express by 48.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock worth $620,000 after buying an additional 42,125 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.