PetIQ (PETQ) Trading 6.2% Higher

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PetIQ Inc (NASDAQ:PETQ)’s share price traded up 6.2% on Wednesday . The company traded as high as $34.00 and last traded at $33.93. 573,673 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 497,751 shares. The stock had previously closed at $31.94.

A number of equities analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, October 5th. CL King assumed coverage on shares of PetIQ in a research report on Friday, September 28th. They issued a “buy” rating and a $49.00 price objective on the stock. Raymond James reiterated a “buy” rating and issued a $45.00 price objective (up from $33.00) on shares of PetIQ in a research report on Wednesday, September 19th. Jefferies Financial Group reiterated a “buy” rating on shares of PetIQ in a research report on Friday, August 24th. Finally, SunTrust Banks lifted their price objective on shares of PetIQ to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.67.

The stock has a market capitalization of $825.68 million, a P/E ratio of 87.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.58. The company has a current ratio of 2.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.56.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Tuesday, August 14th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. PetIQ had a negative net margin of 0.76% and a positive return on equity of 11.40%. The business had revenue of $171.10 million for the quarter, compared to analyst estimates of $148.48 million. PetIQ’s quarterly revenue was up 96.2% compared to the same quarter last year. On average, analysts forecast that PetIQ Inc will post 0.76 EPS for the current year.

In related news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $27.14, for a total value of $542,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $68,312,757.40. The disclosure for this sale can be found here. Insiders sold a total of 3,064,477 shares of company stock worth $113,844,980 over the last quarter. Insiders own 45.26% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of PetIQ in the 3rd quarter worth about $135,000. The Manufacturers Life Insurance Company raised its stake in PetIQ by 64.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after purchasing an additional 2,669 shares during the last quarter. Zions Bancorporation acquired a new position in PetIQ in the 3rd quarter valued at about $187,000. Advisory Services Network LLC raised its stake in PetIQ by 296.0% in the 3rd quarter. Advisory Services Network LLC now owns 4,950 shares of the company’s stock valued at $195,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in PetIQ in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

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PetIQ Company Profile (NASDAQ:PETQ)

PetIQ, Inc operates as a pet health and wellness company. It provides 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. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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