PetIQ, Inc. (PETQ) Receives Consensus Rating of “Buy” from Analysts

Shares of PetIQ, Inc. (NASDAQ:PETQ) have earned an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $27.20.

A number of brokerages have weighed in on PETQ. Jefferies Group lifted their target price on PetIQ from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 7th. CIBC began coverage on PetIQ in a report on Tuesday, August 15th. They issued an “outperform” rating and a $28.00 target price for the company. Raymond James Financial began coverage on PetIQ in a report on Tuesday, August 15th. They issued an “outperform” rating and a $26.00 target price for the company. Oppenheimer began coverage on PetIQ in a report on Tuesday, August 15th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, SunTrust Banks began coverage on PetIQ in a report on Tuesday, August 15th. They issued a “buy” rating and a $28.00 target price for the company.

A number of institutional investors have recently made changes to their positions in PETQ. Eos Management L.P. acquired a new stake in PetIQ in the third quarter valued at approximately $143,836,000. Wasatch Advisors Inc. acquired a new stake in PetIQ in the third quarter valued at approximately $7,229,000. Cortina Asset Management LLC acquired a new stake in PetIQ in the third quarter valued at approximately $5,956,000. Pier Capital LLC acquired a new stake in PetIQ in the third quarter valued at approximately $5,842,000. Finally, Highbridge Capital Management LLC acquired a new stake in PetIQ in the third quarter valued at approximately $5,578,000. 56.49% of the stock is owned by hedge funds and other institutional investors.

Shares of PetIQ (PETQ) traded down $0.13 during mid-day trading on Thursday, reaching $22.05. The company’s stock had a trading volume of 318,751 shares, compared to its average volume of 281,643. The company has a quick ratio of 4.67, a current ratio of 6.83 and a debt-to-equity ratio of 0.19. PetIQ has a 1-year low of $17.03 and a 1-year high of $28.23.

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PetIQ Company Profile

PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.

Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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