PetIQ, Inc. (NASDAQ:PETQ) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PetIQ, Inc. (NASDAQ:PETQ) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.25.

A number of equities analysts recently issued reports on PETQ shares. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and boosted their price target for the company from $30.00 to $31.00 in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of PetIQ in a report on Friday, May 10th. Finally, William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

PetIQ Price Performance

Shares of NASDAQ PETQ opened at $30.48 on Thursday. The stock has a market cap of $906.78 million, a P/E ratio of 138.55 and a beta of 1.71. PetIQ has a twelve month low of $15.09 and a twelve month high of $30.68. The stock has a 50 day moving average of $22.92 and a two-hundred day moving average of $19.68. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.50 by $0.20. The firm had revenue of $328.90 million during the quarter, compared to the consensus estimate of $330.14 million. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. PetIQ’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, research analysts forecast that PetIQ will post 1.12 earnings per share for the current year.

Insider Buying and Selling at PetIQ

In other news, Director Scott Huff sold 12,117 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total transaction of $268,876.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PetIQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in PetIQ by 11.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after buying an additional 108,870 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of PetIQ by 119.6% during the 1st quarter. ProShare Advisors LLC now owns 173,453 shares of the company’s stock worth $3,171,000 after acquiring an additional 94,453 shares in the last quarter. Swiss National Bank acquired a new stake in shares of PetIQ in the 4th quarter worth approximately $1,080,000. Vanguard Group Inc. increased its stake in PetIQ by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,918,500 shares of the company’s stock valued at $37,794,000 after purchasing an additional 226,718 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in PetIQ by 196.6% during the first quarter. Los Angeles Capital Management LLC now owns 129,632 shares of the company’s stock worth $2,370,000 after purchasing an additional 85,920 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.