PetIQ (PETQ) Downgraded by Zacks Investment Research

PetIQ (NASDAQ:PETQ) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.

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 their price target on shares of PetIQ from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. PetIQ currently has an average rating of “Buy” and a consensus price target of $26.83.

Shares of PetIQ (PETQ) opened at $22.56 on Friday. The company has a quick ratio of 4.67, a current ratio of 6.83 and a debt-to-equity ratio of 0.19. The firm has a market cap of $485.91 and a P/E ratio of -83.56. PetIQ has a fifty-two week low of $17.03 and a fifty-two week high of $28.23.

Hedge funds have recently made changes to their positions in the business. American International Group Inc. bought a new position in PetIQ in the third quarter valued at approximately $131,000. Wells Fargo & Company MN bought a new position in PetIQ in the third quarter valued at approximately $204,000. California State Teachers Retirement System bought a new position in PetIQ in the third quarter valued at approximately $320,000. Schwab Charles Investment Management Inc. bought a new position in PetIQ in the third quarter valued at approximately $344,000. Finally, New York State Common Retirement Fund bought a new position in PetIQ in the third quarter valued at approximately $448,000. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

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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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