Jefferies Group Analysts Cut Earnings Estimates for PetIQ (PETQ)

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.

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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.

Shares of PETQ stock opened at $22.41 on Monday. PetIQ has a 12-month low of $17.03 and a 12-month high of $28.23. The company has a market capitalization of $502.74 and a P/E ratio of 57.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.99 and a quick ratio of 3.56.

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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About PetIQ

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.

Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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