Petmed Express (PETS) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Petmed Express (NASDAQ:PETS) from a buy rating to a hold rating in a report published on Saturday morning.

PETS has been the topic of several other research reports. Craig Hallum reiterated a sell rating and set a $32.00 price target (down previously from $38.00) on shares of Petmed Express in a report on Monday, July 9th. ValuEngine downgraded Petmed Express from a sell rating to a strong sell rating in a report on Tuesday, July 24th. Zacks Investment Research downgraded Petmed Express from a buy rating to a hold rating in a report on Tuesday, July 10th. Finally, CL King initiated coverage on Petmed Express in a report on Friday, June 15th. They set a neutral rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $36.75.

Shares of PETS stock opened at $35.25 on Friday. Petmed Express has a 12 month low of $31.81 and a 12 month high of $57.80. The company has a market cap of $747.37 million, a price-to-earnings ratio of 19.37 and a beta of 0.55.

Petmed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, July 23rd. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). Petmed Express had a net margin of 14.42% and a return on equity of 35.77%. The company had revenue of $87.39 million for the quarter, compared to analyst estimates of $85.72 million. During the same quarter last year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. equities research analysts forecast that Petmed Express will post 2.28 EPS for the current year.

In other news, Director Robert C. Schweitzer sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $37.00, for a total value of $277,500.00. Following the completion of the sale, the director now directly owns 88,334 shares of the company’s stock, valued at $3,268,358. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Asset Management Inc. bought a new stake in shares of Petmed Express in the second quarter valued at approximately $2,652,000. First Trust Advisors LP boosted its position in shares of Petmed Express by 36.7% in the second quarter. First Trust Advisors LP now owns 76,829 shares of the company’s stock valued at $3,384,000 after acquiring an additional 20,634 shares during the period. Comerica Bank boosted its position in shares of Petmed Express by 15.6% in the second quarter. Comerica Bank now owns 24,938 shares of the company’s stock valued at $1,003,000 after acquiring an additional 3,361 shares during the period. Alps Advisors Inc. boosted its position in shares of Petmed Express by 19.5% in the second quarter. Alps Advisors Inc. now owns 12,289 shares of the company’s stock valued at $559,000 after acquiring an additional 2,007 shares during the period. Finally, Personal Capital Advisors Corp boosted its position in shares of Petmed Express by 17.6% in the second quarter. Personal Capital Advisors Corp now owns 95,369 shares of the company’s stock valued at $4,201,000 after acquiring an additional 14,281 shares during the period. 95.67% of the stock is owned by institutional investors.

About Petmed Express

PetMed Express, Inc engages in the provision of markets prescription and non-prescription pet medications, health products and supplies for dogs and cats. Its non-prescription medications include flea and tick control products, bone and joint care products, vitamins and nutritional supplements, and hygiene products.

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Analyst Recommendations for Petmed Express (NASDAQ:PETS)

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