ValuEngine downgraded shares of PetIQ (NASDAQ:PETQ) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.
Several other brokerages have also weighed in on PETQ. Zacks Investment Research lowered PetIQ from a buy rating to a hold rating in a research report on Wednesday, July 10th. Guggenheim began coverage on PetIQ in a research report on Thursday, May 23rd. They issued a buy rating and a $35.00 price objective for the company. Finally, BidaskClub lowered PetIQ from a strong-buy rating to a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $40.71.
Shares of PETQ stock traded down $0.91 during trading hours on Thursday, reaching $32.53. The company had a trading volume of 262,926 shares, compared to its average volume of 385,666. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.89 and a quick ratio of 1.51. The stock has a fifty day simple moving average of $33.67. The firm has a market cap of $943.04 million, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.81 and a beta of 2.06. PetIQ has a 12-month low of $21.29 and a 12-month high of $43.93.
PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.19. The business had revenue of $148.44 million during the quarter, compared to analyst estimates of $139.03 million. PetIQ had a return on equity of 9.47% and a net margin of 0.51%. As a group, analysts anticipate that PetIQ will post 0.74 earnings per share for the current fiscal year.
In other news, Director James Nathan Clarke purchased 31,031 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $28.12 per share, for a total transaction of $872,591.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Will Santana sold 20,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $28.16, for a total value of $563,200.00. The disclosure for this sale can be found here. Insiders sold 120,291 shares of company stock valued at $3,676,691 over the last quarter. 23.79% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in PetIQ by 46.5% during the fourth quarter. BlackRock Inc. now owns 1,343,674 shares of the company’s stock worth $31,536,000 after purchasing an additional 426,190 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in PetIQ by 1.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,090,000 shares of the company’s stock worth $35,926,000 after purchasing an additional 20,000 shares in the last quarter. Janus Henderson Group PLC lifted its stake in PetIQ by 32.1% during the second quarter. Janus Henderson Group PLC now owns 973,191 shares of the company’s stock worth $32,076,000 after purchasing an additional 236,405 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in PetIQ by 115.3% during the first quarter. PNC Financial Services Group Inc. now owns 947,727 shares of the company’s stock worth $29,768,000 after purchasing an additional 507,524 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in PetIQ by 8.2% during the second quarter. Peregrine Capital Management LLC now owns 646,423 shares of the company’s stock worth $21,306,000 after purchasing an additional 48,749 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.
PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes 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.
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