PetIQ (NASDAQ:PETQ) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of PetIQ (NASDAQ:PETQ) from a hold rating to a sell rating in a research report released on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on PETQ. ValuEngine lowered PetIQ from a buy rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research raised PetIQ from a hold rating to a buy rating and set a $36.00 price objective for the company in a research note on Friday, August 9th. Finally, Guggenheim began coverage on PetIQ in a report on Thursday, May 23rd. They issued a buy rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. PetIQ currently has a consensus rating of Buy and an average target price of $41.33.

Shares of NASDAQ PETQ opened at $27.70 on Friday. The stock has a market cap of $781.75 million, a price-to-earnings ratio of 22.16, a PEG ratio of 1.07 and a beta of 2.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 2.97. PetIQ has a fifty-two week low of $21.29 and a fifty-two week high of $43.93. The firm’s 50-day simple moving average is $32.18 and its 200 day simple moving average is $30.66.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.35. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. The firm had revenue of $220.60 million during the quarter, compared to analyst estimates of $193.89 million. During the same period in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was up 28.9% on a year-over-year basis. On average, sell-side analysts predict that PetIQ will post 1.07 EPS for the current year.

In related news, insider Will Santana sold 20,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $30.02, for a total value of $600,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 80,291 shares of company stock worth $2,647,491 over the last ninety days. Corporate insiders own 23.79% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Boston Partners raised its holdings in PetIQ by 1.3% during the second quarter. Boston Partners now owns 100,206 shares of the company’s stock worth $3,302,000 after acquiring an additional 1,266 shares in the last quarter. Atria Investments LLC bought a new position in shares of PetIQ in the second quarter valued at $372,000. Hodges Capital Management Inc. grew its stake in shares of PetIQ by 60.8% in the second quarter. Hodges Capital Management Inc. now owns 173,670 shares of the company’s stock valued at $5,724,000 after buying an additional 65,670 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in PetIQ during the second quarter worth $12,569,000. Finally, Waddell & Reed Financial Inc. increased its holdings in PetIQ by 11.4% during the second quarter. Waddell & Reed Financial Inc. now owns 1,780,931 shares of the company’s stock worth $58,699,000 after buying an additional 182,205 shares during the last quarter. 91.80% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Equity Income

Analyst Recommendations for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit