PetIQ (NASDAQ:PETQ) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of PetIQ (NASDAQ:PETQ) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “PetIQ, Inc. is a pet medication and wellness company. Its product consists of Rx Medications, OTC Medications and Supplies, Health and Wellness Products. The Company serves retail stores across the mass, club, grocery, pharmacy and e-commerce channels. PetIQ, Inc. is based in Eagle, United States. “

A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of PetIQ from a hold rating to a sell rating in a report on Saturday, September 7th. ValuEngine lowered shares of PetIQ from a buy rating to a hold rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. PetIQ presently has a consensus rating of Hold and a consensus price target of $37.25.

Shares of PETQ traded down $0.38 during mid-day trading on Wednesday, reaching $25.22. The company had a trading volume of 252,644 shares, compared to its average volume of 335,120. The stock has a market cap of $751.83 million, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.99 and a beta of 2.05. The firm has a fifty day simple moving average of $28.20 and a 200-day simple moving average of $30.45. PetIQ has a fifty-two week low of $21.29 and a fifty-two week high of $36.33. The company has a current ratio of 2.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.33.

PetIQ (NASDAQ:PETQ) last announced its quarterly 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. The company had revenue of $220.60 million for the quarter, compared to analyst estimates of $193.89 million. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. PetIQ’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. As a group, equities analysts predict that PetIQ will post 1.07 EPS for the current fiscal year.

In related news, insider Will Santana sold 20,000 shares of PetIQ stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $35.85, for a total transaction of $717,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 40,000 shares of company stock worth $1,357,200 in the last 90 days. Company insiders own 23.79% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of PetIQ during the 1st quarter valued at $505,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of PetIQ during the 2nd quarter valued at $12,569,000. Advisory Services Network LLC lifted its holdings in shares of PetIQ by 26.4% during the 1st quarter. Advisory Services Network LLC now owns 20,200 shares of the company’s stock valued at $634,000 after acquiring an additional 4,225 shares in the last quarter. Swiss National Bank acquired a new position in shares of PetIQ during the 2nd quarter valued at $1,144,000. Finally, Coatue Management LLC acquired a new position in shares of PetIQ during the 2nd quarter valued at $1,501,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

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.

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