PetIQ Inc (PETQ) Given Average Rating of “Buy” by Brokerages

PetIQ Inc (NASDAQ:PETQ) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.00.

A number of brokerages recently weighed in on PETQ. Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. CL King began coverage on shares of PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 target price for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of PetIQ in a research note on Friday, August 24th. SunTrust Banks increased their price objective on shares of PetIQ to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Oppenheimer increased their price objective on shares of PetIQ from $28.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 5th.

NASDAQ PETQ traded up $0.06 on Friday, reaching $33.74. The company had a trading volume of 6,205 shares, compared to its average volume of 746,897. The firm has a market cap of $886.30 million, a PE ratio of 85.33, a PEG ratio of 1.82 and a beta of 0.42. The company has a current ratio of 2.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.56. PetIQ has a 1-year low of $17.03 and a 1-year high of $43.93.

PetIQ (NASDAQ:PETQ) last announced its earnings results on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $171.10 million during the quarter, compared to analyst estimates of $148.48 million. PetIQ had a negative net margin of 0.76% and a positive return on equity of 11.40%. The firm’s revenue was up 96.2% on a year-over-year basis. Equities research analysts forecast that PetIQ will post 0.76 EPS for the current year.

In other news, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $37.15, for a total value of $68,312,757.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Will Santana sold 713,167 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $37.15, for a total transaction of $26,494,154.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,064,477 shares of company stock valued at $113,844,980. Company insiders own 45.26% of the company’s stock.

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of PetIQ by 64.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after purchasing an additional 2,669 shares during the period. Rhumbline Advisers bought a new position in PetIQ in the 2nd quarter valued at about $248,000. Thompson Davis & CO. Inc. raised its holdings in PetIQ by 408.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 9,753 shares of the company’s stock valued at $262,000 after acquiring an additional 7,834 shares during the period. Creative Planning raised its holdings in PetIQ by 64.3% in the 2nd quarter. Creative Planning now owns 14,015 shares of the company’s stock valued at $376,000 after acquiring an additional 5,485 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in PetIQ in the 1st quarter valued at about $414,000. 74.14% of the stock is currently owned by institutional investors.

PetIQ Company Profile

PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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