PetIQ (NASDAQ:PETQ) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of PetIQ (NASDAQ:PETQ) from a hold rating to a buy rating in a research report report published on Friday morning, BidAskClub reports.

PETQ has been the topic of a number of other reports. Guggenheim lifted their price objective on PetIQ from $33.50 to $44.00 and gave the stock a buy rating in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research lowered PetIQ from a buy rating to a hold rating in a research note on Tuesday, May 12th. Raymond James lifted their price objective on PetIQ from $32.00 to $35.00 and gave the stock an outperform rating in a research note on Tuesday, June 16th. SunTrust Banks lifted their price objective on PetIQ from $30.00 to $35.00 and gave the stock a buy rating in a research note on Friday, May 8th. Finally, Oppenheimer reiterated a buy rating on shares of PetIQ in a research note on Friday, May 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $36.50.

NASDAQ PETQ opened at $34.24 on Friday. PetIQ has a fifty-two week low of $15.83 and a fifty-two week high of $36.33. The stock’s 50-day moving average is $29.46 and its two-hundred day moving average is $27.36. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.85 and a quick ratio of 1.67. The firm has a market cap of $976.84 million, a P/E ratio of -52.95, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $186.78 million for the quarter, compared to analyst estimates of $176.52 million. PetIQ had a positive return on equity of 8.28% and a negative net margin of 2.03%. On average, equities analysts expect that PetIQ will post 1.06 EPS for the current year.

In related news, Director Will Santana sold 17,500 shares of PetIQ stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.43, for a total transaction of $550,025.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 76,667 shares of company stock worth $2,388,649. 24.12% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC boosted its holdings in PetIQ by 9.6% during the first quarter. Fred Alger Management LLC now owns 3,258,462 shares of the company’s stock valued at $75,694,000 after purchasing an additional 284,309 shares in the last quarter. Prentice Capital Management LP boosted its holdings in PetIQ by 20.5% during the first quarter. Prentice Capital Management LP now owns 946,123 shares of the company’s stock valued at $21,978,000 after purchasing an additional 160,886 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in PetIQ by 0.9% during the first quarter. Ensign Peak Advisors Inc now owns 787,384 shares of the company’s stock valued at $18,292,000 after purchasing an additional 7,305 shares in the last quarter. Royal Bank of Canada boosted its holdings in PetIQ by 12.5% during the first quarter. Royal Bank of Canada now owns 771,249 shares of the company’s stock valued at $17,916,000 after purchasing an additional 85,532 shares in the last quarter. Finally, State Street Corp boosted its holdings in PetIQ by 0.4% during the first quarter. State Street Corp now owns 462,349 shares of the company’s stock valued at $10,740,000 after purchasing an additional 2,000 shares in the last quarter. 94.75% of the stock is currently owned by institutional investors and hedge funds.

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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