PetIQ Inc (PETQ) Expected to Post Quarterly Sales of $52.07 Million

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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About PetIQ

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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Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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