PetIQ (NASDAQ:PETQ) Upgraded at ValuEngine

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PetIQ (NASDAQ:PETQ) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, ValuEngine reports.

A number of other equities analysts have also weighed in on PETQ. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Guggenheim restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of VF in a report on Thursday, May 23rd. Finally, BidaskClub upgraded shares of Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. PetIQ has a consensus rating of “Buy” and an average price target of $40.71.

Shares of PETQ traded up $0.48 during trading hours on Friday, hitting $36.00. The company had a trading volume of 222,500 shares, compared to its average volume of 413,117. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 1.93 and a beta of 2.06. The company’s 50 day moving average is $31.56. 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 has a 52-week low of $21.29 and a 52-week high of $43.93.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $139.03 million. On average, equities research analysts forecast that PetIQ will post 0.74 earnings per share for the current fiscal year.

In other news, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $30.77, for a total transaction of $615,400.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Nathan Clarke bought 31,031 shares of PetIQ stock in a transaction dated 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 disclosure for this purchase can be found here. In the last ninety days, insiders sold 120,291 shares of company stock valued at $3,575,091. 23.79% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new position in shares of PetIQ during the first quarter worth approximately $505,000. Campbell Newman Asset Management Inc. grew its position in shares of 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. Dimensional Fund Advisors LP grew its position in shares of PetIQ by 226.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 95,881 shares of the company’s stock worth $2,250,000 after buying an additional 66,498 shares during the period. BCJ Capital Management LLC acquired a new stake in PetIQ in the 4th quarter valued at approximately $235,000. Finally, Voloridge Investment Management LLC acquired a new stake in PetIQ in the 4th quarter valued at approximately $774,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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