PetIQ Inc (PETQ) Expected to Post Quarterly Sales of $125.09 Million

Wall Street brokerages expect PetIQ Inc (NASDAQ:PETQ) to report sales of $125.09 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for PetIQ’s earnings, with the lowest sales estimate coming in at $121.10 million and the highest estimate coming in at $128.40 million. PetIQ posted sales of $60.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 106.6%. The firm is expected to issue its next earnings results after the market closes on Tuesday, November 13th.

According to Zacks, analysts expect that PetIQ will report full-year sales of $502.22 million for the current fiscal year, with estimates ranging from $495.10 million to $505.30 million. For the next year, analysts forecast that the business will post sales of $584.15 million, with estimates ranging from $550.00 million to $604.57 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for PetIQ.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $171.10 million during the quarter, compared to the consensus estimate of $148.48 million. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The business’s revenue was up 96.2% compared to the same quarter last year.

Several research firms have recently weighed in on PETQ. ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. CL King started coverage on PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 target price for the company. SunTrust Banks raised their target price on PetIQ to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Raymond James restated a “buy” rating and issued a $45.00 target price (up previously from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. Finally, Oppenheimer raised their target price on PetIQ from $28.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.67.

In other PetIQ news, CFO John Newland sold 5,500 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $26.78, for a total value of $147,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $27.14, for a total value of $542,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,064,477 shares of company stock valued at $113,844,980. 45.26% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new stake in shares of PetIQ in the 3rd quarter valued at about $135,000. The Manufacturers Life Insurance Company raised its holdings in shares of PetIQ by 64.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after acquiring an additional 2,669 shares in the last quarter. Zions Bancorporation purchased a new stake in shares of PetIQ in the 3rd quarter valued at about $187,000. Advisory Services Network LLC raised its holdings in shares of PetIQ by 296.0% in the 3rd quarter. Advisory Services Network LLC now owns 4,950 shares of the company’s stock valued at $195,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of PetIQ in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

PETQ stock opened at $30.96 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 2.00 and a debt-to-equity ratio of 0.56. The firm has a market cap of $825.68 million, a PE ratio of 79.38, a PEG ratio of 1.69 and a beta of 1.58. PetIQ has a fifty-two week low of $17.03 and a fifty-two week high of $43.93.

About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company 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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