PetIQ, Inc. (NASDAQ:PETQ) Receives $29.25 Consensus PT from Brokerages

Shares of PetIQ, Inc. (NASDAQ:PETQ) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.25.

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

Insider Activity 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 shares were sold at an average price of $22.19, for a total value of $268,876.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On PetIQ

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in 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 in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of PetIQ in the fourth quarter worth approximately $35,000. First Horizon Advisors Inc. purchased a new stake in shares of PetIQ in the second quarter worth $36,000. FinTrust Capital Advisors LLC increased 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 in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of PetIQ during the 2nd quarter valued at $51,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

PetIQ Price Performance

Shares of PETQ opened at $30.52 on Monday. PetIQ has a twelve month low of $15.09 and a twelve month high of $30.68. The company has a market capitalization of $908.03 million, a P/E ratio of 138.73 and a beta of 1.73. The firm has a 50 day moving average of $25.50 and a 200 day moving average of $20.99. 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 posted its earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same quarter last year, the company earned $0.37 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that PetIQ will post 1.12 earnings per share for the current fiscal 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.