PetMed Express, Inc. (PETS) Receives Average Rating of “Hold” from Analysts

PetMed Express, Inc. (NASDAQ:PETS) has received an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.00.

Several equities research analysts have commented on the stock. BidaskClub upgraded shares of PetMed Express from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 9th. ValuEngine upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Friday, October 20th. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a research report on Friday, October 27th. Finally, Credit Suisse Group reiterated an “underperform” rating and issued a $19.00 price target on shares of PetMed Express in a research report on Monday, October 2nd.

Shares of PetMed Express (PETS) opened at $46.59 on Wednesday. PetMed Express has a one year low of $19.21 and a one year high of $50.90. The firm has a market cap of $957.28, a PE ratio of 31.27, a P/E/G ratio of 2.71 and a beta of 1.13.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Monday, October 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. PetMed Express had a net margin of 13.13% and a return on equity of 34.56%. The business had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $63.41 million. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. sell-side analysts forecast that PetMed Express will post 1.68 EPS for the current fiscal year.

In related news, Director Gian Fulgoni sold 20,000 shares of PetMed Express stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $44.38, for a total value of $887,600.00. Following the transaction, the director now owns 55,900 shares of the company’s stock, valued at approximately $2,480,842. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald J. Korn sold 1,000 shares of PetMed Express stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the transaction, the director now directly owns 73,833 shares in the company, valued at approximately $2,626,239.81. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of PetMed Express by 21.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after buying an additional 225,474 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PetMed Express by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock valued at $34,940,000 after buying an additional 65,932 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of PetMed Express by 552.8% in the 3rd quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock valued at $27,330,000 after buying an additional 698,140 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PetMed Express by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock valued at $17,542,000 after buying an additional 49,889 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its stake in shares of PetMed Express by 76.9% in the 3rd quarter. Uniplan Investment Counsel Inc. now owns 333,220 shares of the company’s stock valued at $11,046,000 after buying an additional 144,903 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

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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.

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