PetMed Express, Inc. (PETS) Given Average Rating of “Hold” by Analysts

PetMed Express, Inc. (NASDAQ:PETS) has earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.80.

PETS has been the subject of a number of analyst reports. Zacks Investment Research raised PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Friday, October 20th. BidaskClub raised PetMed Express from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 9th. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a report on Friday, October 27th. Northcoast Research set a $58.00 price target on PetMed Express and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, ValuEngine cut PetMed Express from a “buy” rating to a “hold” rating in a report on Monday, October 2nd.

In other PetMed Express news, Director Ronald J. Korn sold 1,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $35.57, for a total transaction of $35,570.00. Following the completion of the transaction, the director now owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Menderes Akdag sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $51.00, for a total value of $1,530,000.00. Following the transaction, the chief executive officer now directly owns 490,000 shares of the company’s stock, valued at approximately $24,990,000. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $2,453,170 in the last three months. Insiders own 4.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. raised its holdings in shares of PetMed Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock valued at $110,000 after acquiring an additional 27 shares during the last quarter. Sei Investments Co. raised its holdings in shares of PetMed Express by 50,142.9% during the third quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock valued at $117,000 after acquiring an additional 3,510 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of PetMed Express during the third quarter valued at approximately $149,000. Fred Alger Management Inc. acquired a new position in shares of PetMed Express during the second quarter valued at approximately $162,000. Finally, SG Americas Securities LLC acquired a new position in shares of PetMed Express during the third quarter valued at approximately $202,000. 99.88% of the stock is owned by institutional investors and hedge funds.

PetMed Express (PETS) opened at $53.24 on Friday. The firm has a market capitalization of $1,150.00, a PE ratio of 35.73, a P/E/G ratio of 3.00 and a beta of 1.12. PetMed Express has a fifty-two week low of $19.21 and a fifty-two week high of $53.90.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings results on Monday, October 23rd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $63.41 million. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. PetMed Express’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. research analysts predict that PetMed Express will post 1.68 earnings per share for the current year.

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About PetMed Express

PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.

Analyst Recommendations for PetMed Express (NASDAQ:PETS)

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