PetIQ Inc (NASDAQ:PETQ) – Research analysts at SunTrust Banks boosted their FY2018 EPS estimates for PetIQ in a research note issued to investors on Monday. SunTrust Banks analyst W. Chappell now expects that the company will post earnings of $0.99 per share for the year, up from their prior estimate of $0.82.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of PetIQ from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $27.00 price target on shares of PetIQ in a report on Monday. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $26.83.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new stake in PetIQ during the 3rd quarter valued at $131,000. Wells Fargo & Company MN acquired a new stake in PetIQ during the 3rd quarter valued at $204,000. California State Teachers Retirement System acquired a new stake in PetIQ during the 3rd quarter valued at $320,000. Schwab Charles Investment Management Inc. acquired a new stake in PetIQ during the 3rd quarter valued at $344,000. Finally, New York State Common Retirement Fund acquired a new stake in PetIQ during the 3rd quarter valued at $448,000. 56.49% of the stock is owned by institutional investors and hedge funds.
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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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