PetIQ Inc (NASDAQ:PETQ) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.20 and last traded at $37.20, with a volume of 18050 shares changing hands. The stock had previously closed at $37.97.
PETQ has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and set a $30.00 price objective on shares of PetIQ in a research report on Wednesday, May 16th. SunTrust Banks boosted their price target on PetIQ to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded PetIQ from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. BidaskClub upgraded PetIQ from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 28th. Finally, ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $33.33.
The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90. The firm has a market cap of $846.63 million and a price-to-earnings ratio of 94.87.
PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business had revenue of $171.10 million during the quarter, compared to analyst estimates of $148.48 million. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The business’s revenue for the quarter was up 96.2% on a year-over-year basis. research analysts forecast that PetIQ Inc will post 0.76 earnings per share for the current fiscal year.
In other news, CEO Mccord Christensen sold 6,348 shares of the business’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $23.01, for a total transaction of $146,067.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Newland sold 5,500 shares of the business’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $24.53, for a total value of $134,915.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,974 shares of company stock valued at $3,191,965. Insiders own 45.26% of the company’s stock.
Several institutional investors have recently made changes to their positions in PETQ. Wasatch Advisors Inc. raised its position in shares of PetIQ by 452.1% during the second quarter. Wasatch Advisors Inc. now owns 1,944,321 shares of the company’s stock worth $52,224,000 after purchasing an additional 1,592,157 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of PetIQ by 571.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 940,000 shares of the company’s stock worth $25,248,000 after acquiring an additional 800,000 shares during the last quarter. Pembroke Management LTD acquired a new stake in shares of PetIQ in the 2nd quarter worth about $18,637,000. Massachusetts Financial Services Co. MA raised its holdings in shares of PetIQ by 89.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 576,968 shares of the company’s stock worth $15,497,000 after acquiring an additional 272,588 shares during the last quarter. Finally, Redwood Investments LLC raised its holdings in shares of PetIQ by 55.5% in the 1st quarter. Redwood Investments LLC now owns 749,611 shares of the company’s stock worth $19,940,000 after acquiring an additional 267,430 shares during the last quarter. 79.29% of the stock is currently owned by institutional investors.
PetIQ Company Profile (NASDAQ:PETQ)
PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It 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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