PetIQ (NASDAQ:PETQ) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
A number of other research firms have also weighed in on PETQ. Zacks Investment Research lowered shares of PetIQ from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 price target on shares of PetIQ in a report on Wednesday, May 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. PetIQ currently has a consensus rating of “Buy” and an average target price of $28.00.
PetIQ opened at $26.86 on Thursday, Marketbeat reports. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.09 and a current ratio of 2.35.
PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Tuesday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.04. PetIQ had a net margin of 0.17% and a return on equity of 11.39%. The company had revenue of $115.10 million during the quarter, compared to analyst estimates of $108.54 million. The business’s revenue was up 71.8% compared to the same quarter last year. equities research analysts predict that PetIQ will post 0.78 EPS for the current fiscal year.
In other news, Director Ronald Kennedy purchased 20,200 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was acquired at an average cost of $17.88 per share, with a total value of $361,176.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John Newland sold 5,500 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $24.53, for a total transaction of $134,915.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,500 shares of company stock valued at $1,397,128. Company insiders own 45.26% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PETQ. Wells Fargo & Company MN grew its holdings in PetIQ by 175.2% during the 4th quarter. Wells Fargo & Company MN now owns 20,712 shares of the company’s stock valued at $452,000 after purchasing an additional 13,186 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in PetIQ by 51.4% during the 4th quarter. Bank of New York Mellon Corp now owns 67,087 shares of the company’s stock worth $1,465,000 after acquiring an additional 22,770 shares in the last quarter. BlackRock Inc. grew its holdings in PetIQ by 54.6% during the 4th quarter. BlackRock Inc. now owns 632,556 shares of the company’s stock worth $13,815,000 after acquiring an additional 223,502 shares in the last quarter. Brown Advisory Inc. acquired a new position in PetIQ during the 4th quarter worth $324,000. Finally, Cooper Creek Partners Management LLC grew its holdings in PetIQ by 192.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 366,801 shares of the company’s stock worth $8,011,000 after acquiring an additional 241,292 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.
PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
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