PetIQ (NASDAQ:PETQ) Sees Unusually-High Trading Volume

Shares of PetIQ, Inc. (NASDAQ:PETQ) saw an uptick in trading volume on Thursday . 825,409 shares were traded during trading, an increase of 80% from the previous session’s volume of 458,094 shares.The stock last traded at $30.77 and had previously closed at $30.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PETQ shares. Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair downgraded PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Stock Performance

The firm’s 50 day simple moving average is $27.15 and its two-hundred day simple moving average is $21.86. The stock has a market capitalization of $915.77 million, a P/E ratio of 139.91 and a beta of 1.73. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of PetIQ by 86.2% in the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after acquiring an additional 579 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of PetIQ by 50.2% in the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after purchasing an additional 875 shares during the last quarter. ClariVest Asset Management LLC raised its stake in shares of PetIQ by 1.3% in the second quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock worth $2,087,000 after purchasing an additional 1,209 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of PetIQ in the second quarter valued at approximately $36,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of PetIQ during the fourth quarter valued at approximately $35,000. 94.99% of the stock is owned by institutional investors.

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.