SunTrust Banks Weighs in on PetIQ Inc’s FY2018 Earnings (PETQ)

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.

PetIQ (PETQ) traded up $0.29 on Tuesday, reaching $22.17. 863,000 shares of the company were exchanged, compared to its average volume of 352,983. PetIQ has a 1-year low of $17.03 and a 1-year high of $28.23. The company has a quick ratio of 4.67, a current ratio of 6.83 and a debt-to-equity ratio of 0.19.

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.

WARNING: “SunTrust Banks Weighs in on PetIQ Inc’s FY2018 Earnings (PETQ)” was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2018/01/10/suntrust-banks-weighs-in-on-petiq-incs-fy2018-earnings-petq.html.

About PetIQ

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.

Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply