PetIQ (NASDAQ:PETQ) Stock Price Up 7.9%

PetIQ Inc (NASDAQ:PETQ) shot up 7.9% on Monday . The stock traded as high as $26.00 and last traded at $25.87, 418,836 shares changed hands during mid-day trading. An increase of 1% from the average session volume of 414,633 shares. The stock had previously closed at $23.97.

Several brokerages have weighed in on PETQ. BidaskClub lowered PetIQ from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. ValuEngine lowered PetIQ from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.25.

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 1.66. The company has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $30.19. The stock has a market capitalization of $725.30 million, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 0.96 and a beta of 2.05.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.35. PetIQ had a return on equity of 10.17% and a net margin of 0.68%. The firm had revenue of $220.60 million for the quarter, compared to analyst estimates of $193.89 million. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Research analysts anticipate that PetIQ Inc will post 1.07 EPS for the current year.

In other PetIQ news, insider Will Santana sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $35.85, for a total value of $717,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 40,000 shares of company stock worth $1,357,200 over the last ninety days. 23.79% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC bought a new position in PetIQ during the second quarter valued at about $12,569,000. Janus Henderson Group PLC boosted its stake in PetIQ by 32.1% during the second quarter. Janus Henderson Group PLC now owns 973,191 shares of the company’s stock valued at $32,076,000 after buying an additional 236,405 shares in the last quarter. Waddell & Reed Financial Inc. boosted its stake in PetIQ by 11.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,780,931 shares of the company’s stock valued at $58,699,000 after buying an additional 182,205 shares in the last quarter. Calamos Advisors LLC bought a new position in PetIQ during the second quarter valued at about $5,574,000. Finally, BlackRock Inc. boosted its stake in PetIQ by 9.4% during the second quarter. BlackRock Inc. now owns 1,546,873 shares of the company’s stock valued at $50,984,000 after buying an additional 133,368 shares in the last quarter. 91.70% of the stock is owned by institutional investors.

About PetIQ (NASDAQ:PETQ)

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes 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.

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