PetIQ, Inc. (PETQ) Stock Price Down 12.4%

PetIQ, Inc. (NASDAQ:PETQ) shares were down 12.4% on Monday . The company traded as low as $18.92 and last traded at $19.70. Approximately 1,451,500 shares changed hands during trading, an increase of 469% from the average daily volume of 255,241 shares. The stock had previously closed at $22.49.

A number of research analysts recently weighed in on PETQ shares. CIBC started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating and a $28.00 target price on the stock. Raymond James Financial, Inc. started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating and a $26.00 target price on the stock. Jefferies Group LLC started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They set a “hold” rating and a $25.00 target price on the stock. William Blair started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating on the stock. Finally, Oppenheimer Holdings, Inc. started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.20.

The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19.

Hedge funds have recently made changes to their positions in the business. American International Group Inc. purchased a new stake in PetIQ in the 3rd quarter worth $131,000. Wells Fargo & Company MN purchased a new stake in PetIQ in the 3rd quarter worth $204,000. California State Teachers Retirement System purchased a new stake in PetIQ in the 3rd quarter worth $320,000. Schwab Charles Investment Management Inc. purchased a new stake in PetIQ in the 3rd quarter worth $344,000. Finally, New York State Common Retirement Fund purchased a new stake in PetIQ in the 3rd quarter worth $448,000. Institutional investors and hedge funds own 1.94% of the company’s stock.

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PetIQ Company Profile

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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