PetIQ (PETQ) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of PetIQ (NASDAQ:PETQ) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $24.00 target price on the stock.

According to Zacks, “PetIQ, Inc. is a pet medication and wellness company. Its product consists of Rx Medications, OTC Medications and Supplies, Health and Wellness Products. The Company serves retail stores across the mass, club, grocery, pharmacy and e-commerce channels. PetIQ, Inc. is based in Eagle, United States. “

Separately, Jefferies Group raised PetIQ from a hold rating to a buy rating and set a $26.00 price target for the company in a report on Monday, November 20th. Seven investment analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $26.83.

Shares of PetIQ (PETQ) traded up $0.44 during midday trading on Tuesday, hitting $22.61. The company had a trading volume of 284,710 shares, compared to its average volume of 205,617. The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23. The firm has a market capitalization of $485.91 and a P/E ratio of -83.74.

A number of large investors have recently added to or reduced their stakes in the business. Eos Management L.P. purchased a new position in PetIQ in the third quarter worth $143,836,000. Wasatch Advisors Inc. purchased a new position in shares of PetIQ in the third quarter valued at $7,229,000. Cortina Asset Management LLC purchased a new position in shares of PetIQ in the third quarter valued at $5,956,000. Pier Capital LLC purchased a new position in shares of PetIQ in the third quarter valued at $5,842,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of PetIQ in the third quarter valued at $5,578,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

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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.

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