PetIQ, Inc. (NASDAQ:PETQ) Receives $29.25 Average Target Price from Brokerages

Shares of PetIQ, Inc. (NASDAQ:PETQ) have earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $29.25.

Several research analysts have recently weighed in on the stock. Truist Financial cut shares of PetIQ from a “buy” rating to a “hold” rating and upped their price target for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of PetIQ in a research report on Friday, May 10th.

Insiders Place Their Bets

In related news, Director Scott Huff sold 12,117 shares of the business’s stock in a transaction dated 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 SEC, which is accessible through this link. Insiders own 9.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its position in PetIQ by 86.2% during the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after acquiring an additional 579 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in shares of PetIQ by 50.2% during the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after purchasing an additional 875 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of PetIQ by 10.2% in the 4th quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock worth $237,000 after purchasing an additional 1,113 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of PetIQ by 1.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock worth $2,087,000 after buying an additional 1,209 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new stake in shares of PetIQ in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

PetIQ Trading Down 0.0 %

Shares of PETQ opened at $30.52 on Monday. The firm has a market cap of $908.03 million, a P/E ratio of 138.73 and a beta of 1.73. PetIQ has a fifty-two week low of $15.09 and a fifty-two week high of $30.68. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58. The business has a 50-day moving average of $25.50 and a 200 day moving average of $20.99.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The business had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $330.14 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that PetIQ will post 1.12 EPS for the current year.

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.