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)

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