Petmed Express (NASDAQ:PETS) Lowered to Buy at BidaskClub

Petmed Express (NASDAQ:PETS) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, January 19th.

PETS has been the subject of a number of other reports. Credit Suisse Group reiterated an “underperform” rating and issued a $19.00 price objective on shares of Petmed Express in a research note on Monday, October 2nd. Noble Financial reissued a “hold” rating on shares of Petmed Express in a research note on Friday, October 27th. ValuEngine downgraded shares of Petmed Express from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Northcoast Research set a $58.00 price target on shares of Petmed Express and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of Petmed Express from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.80.

Petmed Express (NASDAQ:PETS) traded up $0.37 during trading on Friday, reaching $44.06. 384,440 shares of the company were exchanged, compared to its average volume of 819,785. Petmed Express has a fifty-two week low of $19.21 and a fifty-two week high of $57.80. The stock has a market cap of $903.57, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 2.58 and a beta of 0.95.

Petmed Express (NASDAQ:PETS) last released its quarterly earnings data on Monday, January 22nd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Petmed Express had a net margin of 12.84% and a return on equity of 34.04%. The business had revenue of $60.10 million during the quarter, compared to analyst estimates of $56.76 million. During the same period in the previous year, the business earned $0.24 EPS. Petmed Express’s revenue was up 13.6% compared to the same quarter last year. equities research analysts predict that Petmed Express will post 1.7 EPS for the current year.

In other Petmed Express news, Director Gian Fulgoni sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $44.38, for a total value of $887,600.00. Following the transaction, the director now owns 55,900 shares in the company, valued at $2,480,842. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald J. Korn sold 5,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $48.38, for a total transaction of $241,900.00. Following the completion of the transaction, the director now owns 68,833 shares in the company, valued at approximately $3,330,140.54. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock worth $3,229,500 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PETS. Schwab Charles Investment Management Inc. increased its position in shares of Petmed Express by 20.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 84,764 shares of the company’s stock valued at $3,442,000 after buying an additional 14,456 shares during the period. Legal & General Group Plc lifted its position in shares of Petmed Express by 9.0% during the second quarter. Legal & General Group Plc now owns 36,258 shares of the company’s stock worth $1,472,000 after purchasing an additional 2,992 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Petmed Express by 52.8% during the second quarter. BNP Paribas Arbitrage SA now owns 6,271 shares of the company’s stock worth $255,000 after purchasing an additional 2,167 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Petmed Express by 4.0% during the second quarter. Principal Financial Group Inc. now owns 173,219 shares of the company’s stock worth $7,033,000 after purchasing an additional 6,741 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Petmed Express during the second quarter worth about $2,212,000. Institutional investors own 96.66% of the company’s stock.

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Petmed Express Company Profile

PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.

Analyst Recommendations for Petmed Express (NASDAQ:PETS)

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