PetIQ (PETQ) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of PetIQ (NASDAQ:PETQ) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $24.00 target price on the stock.

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. “

Separately, Jefferies Group lifted their price target on PetIQ from $25.00 to $26.00 and gave the stock a hold rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $26.83.

Shares of PetIQ (NASDAQ PETQ) traded up $0.94 during trading hours on Tuesday, hitting $23.50. The stock had a trading volume of 326,139 shares, compared to its average volume of 236,923. The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. PetIQ has a 12-month low of $17.03 and a 12-month high of $28.23.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC acquired a new position in PetIQ during the third quarter worth $2,162,000. Emerald Mutual Fund Advisers Trust acquired a new position in PetIQ during the third quarter worth $1,856,000. Emerald Advisers Inc. PA acquired a new position in PetIQ during the third quarter worth $2,498,000. EAM Investors LLC acquired a new position in PetIQ during the third quarter worth $2,615,000. Finally, Eos Management L.P. acquired a new position in PetIQ during the third quarter worth $143,836,000. 56.49% of the stock is currently owned by institutional investors.

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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.

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