PetIQ (NASDAQ:PETQ) Raised to Buy at ValuEngine

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

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

Shares of PETQ stock opened at $36.00 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.89 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $31.56. PetIQ has a 12 month low of $21.29 and a 12 month high of $43.93. The stock has a market capitalization of $1.02 billion, a P/E ratio of 28.80, a PEG ratio of 1.95 and a beta of 2.06.

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

In related news, Director James Nathan Clarke purchased 31,031 shares of PetIQ stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $28.12 per share, with a total value of $872,591.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Will Santana sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $27.85, for a total transaction of $557,000.00. The disclosure for this sale can be found here. Insiders sold a total of 120,291 shares of company stock worth $3,575,091 over the last three months. Insiders own 23.79% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of PetIQ by 43.5% in 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. Campbell Newman Asset Management Inc. increased its stake in PetIQ by 3.8% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 18,080 shares of the company’s stock worth $568,000 after buying an additional 658 shares during the period. Legal & General Group Plc increased 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 worth $58,000 after buying an additional 732 shares during the period. Brown Advisory Inc. increased its stake in PetIQ by 4.5% during the 4th quarter. Brown Advisory Inc. now owns 16,970 shares of the company’s stock worth $399,000 after buying an additional 733 shares during the period. Finally, Manchester Capital Management LLC purchased a new stake in PetIQ during the 1st quarter worth approximately $30,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: What is Call Option Volume?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.