Zacks: Brokerages Anticipate PetIQ Inc (NASDAQ:PETQ) Will Announce Quarterly Sales of $173.21 Million

Equities analysts predict that PetIQ Inc (NASDAQ:PETQ) will report sales of $173.21 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for PetIQ’s earnings. The lowest sales estimate is $166.00 million and the highest is $183.70 million. PetIQ posted sales of $131.38 million in the same quarter last year, which suggests a positive year-over-year growth rate of 31.8%. The business is expected to announce its next earnings report on Tuesday, November 12th.

On average, analysts expect that PetIQ will report full year sales of $683.34 million for the current fiscal year, with estimates ranging from $680.00 million to $687.60 million. For the next fiscal year, analysts expect that the business will post sales of $803.12 million, with estimates ranging from $789.20 million to $821.10 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow PetIQ.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.35. PetIQ had a return on equity of 10.54% and a net margin of 0.68%. The firm had revenue of $220.60 million for the quarter, compared to the consensus estimate of $193.89 million. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was up 28.9% compared to the same quarter last year.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday. BidaskClub cut PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. ValuEngine cut PetIQ from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Guggenheim assumed coverage on PetIQ in a research note on Thursday, May 23rd. They issued a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $41.14.

In other news, insider Will Santana sold 20,000 shares of PetIQ stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $27.46, for a total value of $549,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Nathan Clarke acquired 31,031 shares of the stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $28.12 per share, with a total value of $872,591.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 110,291 shares of company stock valued at $3,436,491. 23.79% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PETQ. Manchester Capital Management LLC bought a new position in shares of PetIQ in the 1st quarter worth about $30,000. Citigroup Inc. raised its position in shares of PetIQ by 43.5% in the 4th quarter. Citigroup Inc. now owns 1,827 shares of the company’s stock worth $43,000 after acquiring an additional 554 shares in the last quarter. Bank of Montreal Can bought a new position in shares of PetIQ in the 2nd quarter worth about $53,000. FNY Investment Advisers LLC bought a new position in shares of PetIQ in the 1st quarter worth about $56,000. Finally, Legal & General Group Plc raised its position in shares of PetIQ by 42.6% in the 4th quarter. Legal & General Group Plc now owns 2,451 shares of the company’s stock worth $58,000 after acquiring an additional 732 shares in the last quarter. 89.80% of the stock is owned by hedge funds and other institutional investors.

Shares of PETQ traded down $0.01 during trading hours on Thursday, reaching $33.76. The stock had a trading volume of 321,145 shares, compared to its average volume of 427,248. PetIQ has a 12 month low of $21.29 and a 12 month high of $43.93. The company has a market cap of $952.07 million, a PE ratio of 27.01, a PEG ratio of 1.88 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.89 and a quick ratio of 1.51. The stock has a 50-day moving average price of $34.08.

About PetIQ

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.

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