PetIQ (NASDAQ:PETQ)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a research note issued to investors on Monday. They currently have a $27.00 target price on the stock. Jefferies Group’s price objective would indicate a potential upside of 21.79% from the stock’s current price.
The analysts wrote, “PETQ announced a $220M acquisition of VIP Petcare (~1.5x sales, >18x EBITDA), which is an operator of vet clinics within US retailers. The transaction materially expands PETQ’s TAM, diversifies its revenue base (now 75%/25% products/services), lowers its WMT exposure, and gives it greater leverage with suppliers/customers. Prelim. FY17 sales/EBITDA were in-line with expectations and FY19-20 targets call for 15%+/20%+ sales/EBITDA growth. Reit. Buy.””
Shares of PetIQ (PETQ) opened at $22.17 on Monday. PetIQ has a 52 week low of $17.03 and a 52 week high of $28.23. The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19.
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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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