PetIQ (NASDAQ:PETQ) Sets New 12-Month High at $30.84

PetIQ, Inc. (NASDAQ:PETQ) hit a new 52-week high on Wednesday . The stock traded as high as $30.84 and last traded at $30.84, with a volume of 256911 shares traded. The stock had previously closed at $30.77.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, PetIQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The stock has a market cap of $917.55 million, a PE ratio of 140.14 and a beta of 1.73. The business has a fifty day moving average of $28.75 and a 200-day moving average of $22.82.

PetIQ (NASDAQ:PETQ) last announced its quarterly 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. The firm 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%. PetIQ’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. Equities research analysts anticipate that PetIQ, Inc. will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On PetIQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in PetIQ by 86.2% during the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after purchasing an additional 579 shares during the period. FinTrust Capital Advisors LLC grew its position in PetIQ by 50.2% during the 1st 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 period. ClariVest Asset Management LLC grew its position in PetIQ by 1.3% during the 2nd 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 period. First Horizon Advisors Inc. purchased a new stake in shares of PetIQ during the 2nd quarter worth about $36,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of PetIQ by 67.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,643 shares of the company’s stock worth $103,000 after acquiring an additional 2,271 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

About PetIQ

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.