PetIQ, Inc. (NASDAQ:PETQ) Receives Consensus Recommendation of “Moderate Buy” from Analysts

PetIQ, Inc. (NASDAQ:PETQ) has been given an average recommendation of “Moderate Buy” by the four ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.67.

Several equities analysts have issued reports on the company. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and boosted their target price for the stock from $30.00 to $31.00 in a research report on Thursday, August 8th. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Insider Buying and Selling at PetIQ

In other news, Director Scott Huff sold 12,117 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total transaction of $268,876.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new position in PetIQ during the second quarter worth about $11,414,000. Millennium Management LLC raised its position in shares of PetIQ by 476.4% during the 2nd quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock worth $10,731,000 after purchasing an additional 402,057 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in PetIQ in the 2nd quarter valued at approximately $3,164,000. Dimensional Fund Advisors LP grew its holdings in PetIQ by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after buying an additional 132,450 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in PetIQ by 11.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after buying an additional 108,870 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

PetIQ Price Performance

Shares of NASDAQ PETQ opened at $30.55 on Monday. The stock has a fifty day moving average price of $25.84 and a 200 day moving average price of $21.18. PetIQ has a 1-year low of $15.09 and a 1-year high of $30.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The company has a market cap of $908.92 million, a PE ratio of 138.86 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last released its earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $330.14 million. During the same quarter last year, the business earned $0.37 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that PetIQ will post 1.12 EPS for the current year.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.