PetIQ Inc (PETQ) Expected to Post Quarterly Sales of $193.84 Million

Wall Street brokerages expect PetIQ Inc (NASDAQ:PETQ) to announce sales of $193.84 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for PetIQ’s earnings. The highest sales estimate is $201.50 million and the lowest is $187.80 million. PetIQ posted sales of $171.14 million in the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The business is expected to announce its next quarterly earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that PetIQ will report full year sales of $614.58 million for the current fiscal year, with estimates ranging from $600.40 million to $625.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $717.45 million, with estimates ranging from $677.10 million to $784.80 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for PetIQ.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.19. PetIQ had a return on equity of 9.47% and a net margin of 0.51%. The firm had revenue of $148.44 million for the quarter, compared to analyst estimates of $139.03 million.

PETQ has been the topic of a number of analyst reports. ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Raymond James dropped their price objective on PetIQ from $42.00 to $39.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Zacks Investment Research downgraded PetIQ from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub downgraded PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. Finally, Guggenheim began coverage on PetIQ in a research note on Thursday, May 23rd. They issued a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.71.

In related news, insider Will Santana sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.06, for a total transaction of $621,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Nathan Clarke purchased 31,031 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average cost of $28.12 per share, for a total transaction of $872,591.72. The disclosure for this purchase can be found here. Insiders sold a total of 120,000 shares of company stock worth $3,513,800 over the last three months. 23.79% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Citigroup Inc. raised its stake in PetIQ by 43.5% during the 4th quarter. Citigroup Inc. now owns 1,827 shares of the company’s stock worth $43,000 after buying an additional 554 shares during the period. Campbell Newman Asset Management Inc. raised 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 raised 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. raised 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, Oppenheimer Asset Management Inc. raised its stake in PetIQ by 7.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,466 shares of the company’s stock worth $269,000 after buying an additional 844 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ PETQ traded down $0.56 during trading on Friday, reaching $26.67. The company had a trading volume of 240,400 shares, compared to its average volume of 430,031. PetIQ has a 12 month low of $20.34 and a 12 month high of $43.93. The firm has a market capitalization of $783.99 million, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.88. The company has a current ratio of 2.89, a quick ratio of 1.51 and a debt-to-equity ratio of 0.38.

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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Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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