Wall Street brokerages expect that PetIQ Inc (NASDAQ:PETQ) will post $52.07 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for PetIQ’s earnings. The highest sales estimate is $53.90 million and the lowest is $51.20 million. The firm is expected to issue its next earnings results on Monday, February 5th.
According to Zacks, analysts expect that PetIQ will report full year sales of $52.07 million for the current year, with estimates ranging from $266.40 million to $268.70 million. For the next fiscal year, analysts forecast that the business will post sales of $466.83 million per share, with estimates ranging from $462.20 million to $469.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow PetIQ.
PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.15.
Several equities analysts have recently weighed in on the company. BidaskClub upgraded PetIQ from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group boosted their target price on PetIQ from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 7th. Finally, Zacks Investment Research cut PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. PetIQ currently has an average rating of “Buy” and a consensus price target of $26.83.
Institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC purchased a new position in PetIQ during the third quarter worth about $2,162,000. Emerald Mutual Fund Advisers Trust purchased a new position in PetIQ during the third quarter worth about $1,856,000. Russell Investments Group Ltd. purchased a new position in PetIQ during the third quarter worth about $520,000. Emerald Advisers Inc. PA purchased a new position in PetIQ during the third quarter worth about $2,498,000. Finally, EAM Investors LLC purchased a new position in PetIQ during the third quarter worth about $2,615,000. Institutional investors and hedge funds own 57.54% of the company’s stock.
PetIQ (PETQ) opened at $24.11 on Monday. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23. The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19.
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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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