PetIQ (NASDAQ:PETQ) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of PetIQ (NASDAQ:PETQ) from a buy rating to a hold rating in a research note released on Wednesday morning, 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. “

PETQ has been the topic of several other reports. BidaskClub upgraded shares of Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Guggenheim reiterated a buy rating and issued a $95.00 price objective (up from $90.00) on shares of VF in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. PetIQ presently has an average rating of Buy and a consensus target price of $40.71.

PetIQ stock opened at $34.44 on Wednesday. The business has a 50-day simple moving average of $30.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.51 and a current ratio of 2.89. PetIQ has a 1 year low of $21.29 and a 1 year high of $43.93. The company has a market cap of $971.24 million, a P/E ratio of 23.59, a P/E/G ratio of 1.86 and a beta of 2.06.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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, equities analysts expect that PetIQ will post 0.74 EPS for the current year.

In related news, Director James Nathan Clarke purchased 31,031 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $28.12 per share, for a total transaction of $872,591.72. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Will Santana sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was 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. Over the last quarter, insiders sold 120,291 shares of company stock worth $3,575,091. 23.79% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new stake in shares of PetIQ during the 1st quarter worth about $30,000. FNY Investment Advisers LLC bought a new stake in shares of PetIQ during the 1st quarter worth about $56,000. Citigroup Inc. raised its position in shares of 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 in the last quarter. Legal & General Group Plc raised its position in shares of 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 in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of PetIQ by 327,900.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,280 shares of the company’s stock worth $103,000 after buying an additional 3,279 shares in the last quarter. Institutional investors own 91.87% 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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