PetIQ (PETQ) Given “Buy” Rating at Jefferies Group

PetIQ (NASDAQ:PETQ)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a note issued to investors on Monday, January 8th. They currently have a $27.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 18.94% from the company’s current price.

The analysts wrote, “PETQ announced a $220M acquisition of VIP Petcare (~1.5x sales, >18x EBITDA), which is an operator of vet clinics within US retailers. The transaction materially expands PETQ’s TAM, diversifies its revenue base (now 75%/25% products/services), lowers its WMT exposure, and gives it greater leverage with suppliers/customers. Prelim. FY17 sales/EBITDA were in-line with expectations and FY19-20 targets call for 15%+/20%+ sales/EBITDA growth. Reit. Buy.””

PetIQ (NASDAQ:PETQ) opened at $22.70 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.83 and a quick ratio of 4.67. PetIQ has a 1-year low of $17.03 and a 1-year high of $28.23.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Monday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.15. equities analysts forecast that PetIQ will post 0.76 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. lifted its position in shares of PetIQ by 29.1% during the fourth quarter. Wasatch Advisors Inc. now owns 344,547 shares of the company’s stock valued at $7,525,000 after buying an additional 77,584 shares during the last quarter. AMI Asset Management Corp lifted its position in shares of PetIQ by 79.7% during the fourth quarter. AMI Asset Management Corp now owns 341,445 shares of the company’s stock valued at $7,457,000 after buying an additional 151,443 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of PetIQ during the third quarter valued at about $5,578,000. Alyeska Investment Group L.P. purchased a new stake in shares of PetIQ during the third quarter valued at about $2,647,000. Finally, JW Asset Management LLC purchased a new stake in shares of PetIQ during the third quarter valued at about $542,000. 57.54% of the stock is owned by institutional investors and hedge funds.

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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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