Equities research analysts forecast that PetIQ Inc (NASDAQ:PETQ) will announce sales of $148.48 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for PetIQ’s earnings, with the highest sales estimate coming in at $150.40 million and the lowest estimate coming in at $146.60 million. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 21st.
On average, analysts expect that PetIQ will report full-year sales of $481.45 million for the current fiscal year, with estimates ranging from $472.00 million to $487.00 million. For the next financial year, analysts anticipate that the firm will post sales of $567.61 million per share, with estimates ranging from $552.00 million to $577.05 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover PetIQ.
PetIQ (NASDAQ:PETQ) last posted its earnings results on Tuesday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. PetIQ had a return on equity of 11.39% and a net margin of 0.17%. The business had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $108.54 million. PetIQ’s revenue was up 71.8% on a year-over-year basis.
A number of analysts recently issued reports on PETQ shares. BidaskClub raised PetIQ from a “hold” rating to a “buy” rating in a research note on Tuesday, June 19th. Jefferies Financial Group reissued a “buy” rating and set a $31.00 target price on shares of PetIQ in a research note on Wednesday, April 11th. Finally, Zacks Investment Research raised PetIQ from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, March 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. PetIQ presently has a consensus rating of “Buy” and a consensus target price of $28.00.
PetIQ opened at $26.86 on Monday, according to Marketbeat.com. 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 current ratio of 2.35 and a quick ratio of 1.09. The company has a market cap of $658.96 million and a P/E ratio of 68.87.
In other PetIQ news, Director Ronald Kennedy purchased 20,200 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was bought 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 can be accessed through this link. Also, CFO John Newland sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 21st. The stock was 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. Insiders have sold a total of 36,500 shares of company stock valued at $872,728 over the last ninety days. Company insiders own 45.26% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PETQ. Park West Asset Management LLC bought a new position in shares of PetIQ during the 4th quarter worth approximately $19,527,000. Redwood Investments LLC grew its stake in shares of PetIQ by 55.5% during the 1st quarter. Redwood Investments LLC now owns 749,611 shares of the company’s stock worth $19,940,000 after acquiring an additional 267,430 shares in the last quarter. Fiera Capital Corp bought a new position in shares of PetIQ during the 1st quarter worth approximately $6,651,000. BlackRock Inc. grew its stake in shares of 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. Finally, Harvest Capital Strategies LLC grew its stake in shares of PetIQ by 60.9% during the 4th quarter. Harvest Capital Strategies LLC now owns 508,595 shares of the company’s stock worth $11,108,000 after acquiring an additional 192,548 shares in the last quarter. 63.95% of the stock is owned by institutional investors.
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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