PetIQ Sees Unusually Large Options Volume (PETQ)

PetIQ Inc (NASDAQ:PETQ) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 1,840 call options on the stock. This represents an increase of 2,731% compared to the average daily volume of 65 call options.

Shares of PETQ opened at $31.27 on Wednesday. PetIQ has a 1-year low of $17.50 and a 1-year high of $43.93. The stock has a market cap of $848.80 million, a price-to-earnings ratio of 80.18, a P/E/G ratio of 1.74 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 2.00 and a debt-to-equity ratio of 0.56.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $125.22 million. PetIQ had a negative net margin of 0.76% and a positive return on equity of 11.40%. The business’s revenue for the quarter was up 116.8% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. As a group, equities research analysts predict that PetIQ will post 0.76 earnings per share for the current fiscal year.

In related news, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $37.15, for a total transaction of $68,312,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $37.58, for a total transaction of $751,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,023,503 shares of company stock valued at $112,721,308. 45.26% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Eos Management L.P. grew its holdings in shares of PetIQ by 2,470.1% in the third quarter. Eos Management L.P. now owns 136,511,326 shares of the company’s stock valued at $3,473,000 after purchasing an additional 131,199,803 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in shares of PetIQ by 452.1% in the second quarter. Wasatch Advisors Inc. now owns 1,944,321 shares of the company’s stock valued at $52,224,000 after purchasing an additional 1,592,157 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of PetIQ by 6.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $39,310,000 after purchasing an additional 60,000 shares in the last quarter. BlackRock Inc. grew its holdings in shares of PetIQ by 9.9% in the third quarter. BlackRock Inc. now owns 917,484 shares of the company’s stock valued at $36,066,000 after purchasing an additional 82,449 shares in the last quarter. Finally, Pembroke Management LTD acquired a new position in shares of PetIQ in the second quarter valued at approximately $18,637,000.

A number of equities research analysts have weighed in on PETQ shares. SunTrust Banks lifted their price target on shares of PetIQ to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Jefferies Financial Group reiterated a “buy” rating on shares of PetIQ in a research report on Friday, August 24th. Raymond James reiterated a “buy” rating and set a $45.00 price target (up from $33.00) on shares of PetIQ in a research report on Wednesday, September 19th. CL King started coverage on shares of PetIQ in a research report on Friday, September 28th. They set a “buy” rating and a $49.00 price target for the company. Finally, Oppenheimer lifted their price target on shares of PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, October 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $40.67.

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About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It provides 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. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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