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

Brokerages expect that PetIQ Inc (NASDAQ:PETQ) will report sales of $52.07 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for PetIQ’s earnings, with the highest sales estimate coming in at $53.90 million and the lowest estimate coming in at $51.20 million. The firm is expected to announce its next quarterly earnings report on Monday, February 19th.

On average, 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 expect that the company will report sales of $466.83 million per share, with estimates ranging from $462.20 million to $469.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for PetIQ.

A number of research firms recently weighed in on PETQ. BidaskClub raised shares of PetIQ from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group increased their price objective on shares of 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 lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. PetIQ has an average rating of “Buy” and an average target price of $26.83.

PetIQ (PETQ) traded up $0.20 during trading on Thursday, reaching $22.91. 129,110 shares of the company were exchanged, compared to its average volume of 203,229. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 6.83. PetIQ has a 12 month low of $17.03 and a 12 month high of $28.23.

Several large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in shares of PetIQ by 9.1% during the fourth quarter. TIAA CREF Investment Management LLC now owns 37,750 shares of the company’s stock worth $824,000 after acquiring an additional 3,152 shares during the period. American International Group Inc. purchased a new position in shares of PetIQ during the third quarter worth approximately $131,000. Keeler Thomas Management LLC purchased a new position in shares of PetIQ during the fourth quarter worth approximately $131,000. Wells Fargo & Company MN purchased a new position in shares of PetIQ during the third quarter worth approximately $204,000. Finally, Geode Capital Management LLC increased its position in shares of PetIQ by 16.5% during the fourth quarter. Geode Capital Management LLC now owns 60,143 shares of the company’s stock worth $1,313,000 after acquiring an additional 8,512 shares during the period. 56.57% of the stock is currently owned by institutional investors and hedge funds.

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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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