Analysts Set Expectations for PetIQ Inc’s FY2018 Earnings (PETQ)

PetIQ Inc (NASDAQ:PETQ) – Equities research analysts at SunTrust Banks cut their FY2018 earnings estimates for PetIQ in a note issued to investors on Monday, October 15th. SunTrust Banks analyst W. Chappell now anticipates that the company will post earnings per share of $0.77 for the year, down from their previous forecast of $0.79. SunTrust Banks has a “Buy” rating and a $40.00 price objective on the stock. SunTrust Banks also issued estimates for PetIQ’s Q1 2019 earnings at $0.08 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $0.92 EPS.

PetIQ (NASDAQ:PETQ) last released its earnings results on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The firm had revenue of $171.10 million during the quarter, compared to analysts’ expectations of $148.48 million. PetIQ’s revenue was up 96.2% compared to the same quarter last year.

PETQ has been the subject of several other reports. BidaskClub upgraded PetIQ from a “hold” rating to a “buy” rating in a research note on Tuesday, June 19th. Oppenheimer upped their target price on PetIQ from $28.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 5th. Jefferies Financial Group upped their target price on PetIQ from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, July 2nd. Raymond James reiterated a “buy” rating and issued a $45.00 price target (up from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. Finally, CL King initiated coverage on PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.67.

NASDAQ PETQ opened at $35.63 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90. PetIQ has a fifty-two week low of $17.03 and a fifty-two week high of $43.93. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 91.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Several institutional investors and hedge funds have recently made changes to their positions in PETQ. The Manufacturers Life Insurance Company raised its position in PetIQ by 64.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock worth $182,000 after purchasing an additional 2,669 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in PetIQ by 29.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,400 shares of the company’s stock worth $437,000 after purchasing an additional 3,700 shares during the last quarter. GSA Capital Partners LLP raised its position in PetIQ by 38.1% during the 2nd quarter. GSA Capital Partners LLP now owns 19,200 shares of the company’s stock worth $516,000 after purchasing an additional 5,300 shares during the last quarter. Creative Planning raised its position in PetIQ by 64.3% during the 2nd quarter. Creative Planning now owns 14,015 shares of the company’s stock worth $376,000 after purchasing an additional 5,485 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan raised its position in PetIQ by 13.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 52,000 shares of the company’s stock worth $1,397,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 74.14% of the company’s stock.

In other news, insider Will Santana sold 20,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $27.14, for a total value of $542,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mccord Christensen sold 160,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $37.15, for a total value of $5,944,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,064,477 shares of company stock valued at $113,844,980 over the last quarter. 45.26% of the stock is owned by corporate insiders.

PetIQ Company Profile

PetIQ, Inc operates as a pet health and wellness company. It provides 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. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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