PetIQ (NASDAQ:PETQ) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of PetIQ (NASDAQ:PETQ) from a hold rating to a buy rating in a report released on Friday morning, ValuEngine reports.

A number of other research analysts also recently issued reports on PETQ. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. BidaskClub raised shares of Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Finally, Guggenheim restated a buy rating and set a $95.00 target price (up previously from $90.00) on shares of VF in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. PetIQ currently has an average rating of Buy and an average price target of $40.71.

Shares of PetIQ stock opened at $35.67 on Friday. The company has a current ratio of 2.89, a quick ratio of 1.51 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $32.13. The stock has a market cap of $1.01 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.95 and a beta of 2.06. PetIQ has a 12-month low of $21.29 and a 12-month high of $43.93.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.19. The business had revenue of $148.44 million for the quarter, compared to the consensus estimate of $139.03 million. PetIQ had a net margin of 0.51% and a return on equity of 9.47%. As a group, sell-side analysts expect that PetIQ will post 0.74 EPS for the current fiscal year.

In other PetIQ news, Director James Nathan Clarke bought 31,031 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $28.12 per share, for a total transaction of $872,591.72. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Will Santana sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $30.77, for a total transaction of $615,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,291 shares of company stock worth $3,575,091. Company insiders own 23.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC bought a new position in PetIQ in the 1st quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in PetIQ during the 1st quarter valued at about $56,000. Citigroup Inc. lifted its stake in PetIQ by 43.5% during the 4th quarter. Citigroup Inc. now owns 1,827 shares of the company’s stock valued at $43,000 after acquiring an additional 554 shares during the period. Legal & General Group Plc lifted its stake in PetIQ by 42.6% during the 4th quarter. Legal & General Group Plc now owns 2,451 shares of the company’s stock valued at $58,000 after acquiring an additional 732 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in PetIQ by 327,900.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,280 shares of the company’s stock valued at $103,000 after acquiring an additional 3,279 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.

PetIQ Company Profile

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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Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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