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.
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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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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