PetIQ (NASDAQ:PETQ) Cut to “Buy” at BidaskClub

BidaskClub lowered shares of PetIQ (NASDAQ:PETQ) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on the company. Guggenheim assumed coverage on PetIQ in a research note on Thursday, May 23rd. They issued a buy rating and a $35.00 target price for the company. Zacks Investment Research upgraded PetIQ from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Friday, May 17th. ValuEngine lowered PetIQ from a buy rating to a hold rating in a research note on Saturday, March 9th. 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 research note on Monday, March 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $40.71.

PETQ stock opened at $31.25 on Monday. The company has a current ratio of 2.89, a quick ratio of 1.51 and a debt-to-equity ratio of 0.38. PetIQ has a 1 year low of $21.29 and a 1 year high of $43.93. The firm has a market capitalization of $848.85 million, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.51 and a beta of 1.88. The company has a 50-day moving average of $28.86.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $139.03 million. As a group, research analysts expect that PetIQ will post 0.8 EPS for the current fiscal year.

In other PetIQ news, Director James Nathan Clarke acquired 31,031 shares of the stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $28.12 per share, for a total transaction of $872,591.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $30.77, for a total value of $615,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,291 shares of company stock valued at $3,514,891. 23.79% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PETQ. PNC Financial Services Group Inc. grew its stake in 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. BlackRock Inc. lifted its holdings in PetIQ by 46.5% during the 4th quarter. BlackRock Inc. now owns 1,343,674 shares of the company’s stock worth $31,536,000 after buying an additional 426,190 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in PetIQ by 68.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 641,684 shares of the company’s stock worth $15,060,000 after buying an additional 261,092 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PetIQ by 39.3% during the 1st quarter. Janus Henderson Group PLC now owns 736,786 shares of the company’s stock worth $23,142,000 after buying an additional 207,939 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in PetIQ by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 454,216 shares of the company’s stock worth $10,660,000 after buying an additional 117,708 shares during the last quarter. Hedge funds and other institutional investors own 91.87% 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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