Q2 2018 Earnings Estimate for PetIQ Issued By SunTrust Banks (PETQ)

PetIQ (NASDAQ:PETQ) – Investment analysts at SunTrust Banks upped their Q2 2018 earnings per share (EPS) estimates for shares of PetIQ in a report issued on Tuesday, March 13th, Zacks Investment Research reports. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.32 per share for the quarter, up from their previous forecast of $0.30. SunTrust Banks also issued estimates for PetIQ’s Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.18 EPS, FY2018 earnings at $0.96 EPS, Q1 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.23 EPS.

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PETQ has been the subject of several other reports. Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, March 16th. Jefferies Group restated a “buy” rating and issued a $27.00 price objective on shares of PetIQ in a research note on Monday, January 8th. Finally, BidaskClub upgraded PetIQ from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. PetIQ currently has an average rating of “Buy” and an average price target of $27.50.

Shares of NASDAQ:PETQ traded down $0.87 during midday trading on Thursday, hitting $23.23. The company had a trading volume of 430,153 shares, compared to its average volume of 566,356. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.99 and a quick ratio of 3.56. The firm has a market capitalization of $544.46 and a price-to-earnings ratio of 59.56. PetIQ has a 12-month low of $17.03 and a 12-month high of $28.23.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Tuesday, March 13th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The company had revenue of $51.93 million during the quarter, compared to analysts’ expectations of $51.63 million.

In other PetIQ news, CFO John Newland sold 5,500 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $24.83, for a total value of $136,565.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mccord Christensen sold 20,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $26.22, for a total value of $524,400.00. The disclosure for this sale can be found here. Insiders sold a total of 65,500 shares of company stock valued at $1,657,765 in the last quarter.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in PetIQ in the 3rd quarter worth $520,000. Eagle Asset Management Inc. bought a new position in shares of PetIQ during the 4th quarter valued at about $2,020,000. Fred Alger Management Inc. boosted its holdings in shares of PetIQ by 544.6% during the 4th quarter. Fred Alger Management Inc. now owns 112,302 shares of the company’s stock valued at $2,453,000 after purchasing an additional 94,880 shares during the last quarter. EAM Investors LLC bought a new position in shares of PetIQ during the 3rd quarter valued at about $2,615,000. Finally, Eos Management L.P. bought a new position in shares of PetIQ during the 3rd quarter valued at about $143,836,000. Institutional investors and hedge funds own 37.02% of the company’s stock.

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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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