Stock analysts at Guggenheim initiated coverage on shares of PetIQ (NASDAQ:PETQ) in a report released on Thursday, Marketbeat reports. The firm set a “buy” rating and a $35.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 26.72% from the stock’s current price.
PETQ has been the subject of a number of other research reports. BidaskClub raised PetIQ from a “buy” rating to a “strong-buy” rating in a report on Friday, January 25th. Zacks Investment Research cut PetIQ from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 5th. ValuEngine raised PetIQ from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Raymond James lowered their target price on PetIQ from $42.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.71.
Shares of PETQ opened at $27.62 on Thursday. PetIQ has a 12-month low of $19.01 and a 12-month high of $43.93. The company has a quick ratio of 1.51, a current ratio of 2.89 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $778.91 million, a price-to-earnings ratio of 22.10, a PEG ratio of 1.49 and a beta of 2.04.
PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.19. PetIQ had a return on equity of 9.47% and a net margin of 0.51%. The business had revenue of $148.44 million during the quarter, compared to analysts’ expectations of $139.03 million. As a group, research analysts forecast that PetIQ will post 0.8 earnings per share for the current fiscal year.
In related news, Director James Nathan Clarke purchased 31,031 shares of PetIQ stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $28.12 per share, for a total transaction of $872,591.72. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Will Santana sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $25.63, for a total value of $512,600.00. The disclosure for this sale can be found here. Insiders sold a total of 140,000 shares of company stock worth $4,088,000 in the last quarter. Corporate insiders own 23.79% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PETQ. BlackRock Inc. boosted its position in shares of PetIQ by 5.2% during the 1st quarter. BlackRock Inc. now owns 1,413,505 shares of the company’s stock valued at $44,398,000 after purchasing an additional 69,831 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of PetIQ by 8.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,080,000 shares of the company’s stock valued at $25,348,000 after purchasing an additional 80,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of PetIQ by 115.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 947,727 shares of the company’s stock valued at $29,768,000 after purchasing an additional 507,524 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of PetIQ by 39.3% during the 1st quarter. Janus Henderson Group PLC now owns 736,786 shares of the company’s stock valued at $23,142,000 after purchasing an additional 207,939 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in shares of PetIQ by 30.3% during the 3rd quarter. Vanguard Group Inc now owns 669,106 shares of the company’s stock valued at $26,303,000 after purchasing an additional 155,756 shares in the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.
PetIQ Company Profile
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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