PetIQ (NASDAQ:PETQ) – Research analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for shares of PetIQ in a note issued to investors on Wednesday, April 11th. Jefferies Group analyst K. Grundy now anticipates that the company will earn $0.05 per share for the quarter, down from their previous forecast of $0.29. Jefferies Group has a “Buy” rating and a $31.00 price objective on the stock. Jefferies Group also issued estimates for PetIQ’s FY2018 earnings at $0.70 EPS and FY2019 earnings at $0.86 EPS.
PETQ has been the subject of a number of other reports. Zacks Investment Research raised PetIQ from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, March 16th. BidaskClub raised PetIQ from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $28.17.
PetIQ (NASDAQ:PETQ) last issued its quarterly earnings data on Tuesday, March 13th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $51.93 million during the quarter, compared to the consensus estimate of $51.63 million.
In other PetIQ news, CEO Mccord Christensen sold 40,000 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $996,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Newland sold 5,500 shares of the stock in a transaction on Monday, March 19th. The shares were sold at an average price of $24.83, for a total value of $136,565.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,500 shares of company stock valued at $1,657,765.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC boosted its stake in PetIQ by 9.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 37,750 shares of the company’s stock valued at $824,000 after purchasing an additional 3,152 shares in the last quarter. American International Group Inc. bought a new position in PetIQ during the 3rd quarter valued at $131,000. Keeler Thomas Management LLC bought a new position in PetIQ during the 4th quarter valued at $131,000. Wells Fargo & Company MN bought a new position in PetIQ during the 3rd quarter valued at $204,000. Finally, Geode Capital Management LLC boosted its stake in PetIQ by 16.5% during the 4th quarter. Geode Capital Management LLC now owns 60,143 shares of the company’s stock valued at $1,313,000 after purchasing an additional 8,512 shares in the last quarter. 37.02% of the stock is owned by hedge funds and other institutional investors.
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PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.
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