PetIQ (NASDAQ:PETQ) Sees Large Volume Increase

PetIQ, Inc. (NASDAQ:PETQ) shares saw strong trading volume on Monday . 1,159,742 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 477,053 shares.The stock last traded at $30.75 and had previously closed at $30.75.

Analyst Upgrades and Downgrades

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

PetIQ Price Performance

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 firm has a market cap of $917.25 million, a price-to-earnings ratio of 140.18 and a beta of 1.73. The stock’s fifty day moving average price is $28.75 and its 200-day moving average price is $22.82.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.20. The firm had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $330.14 million. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company’s quarterly 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. Equities research analysts predict that PetIQ, Inc. will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On PetIQ

A number of large investors have recently made changes to their positions in the business. Tributary Capital Management LLC acquired a new stake in shares of PetIQ during the second quarter worth approximately $11,414,000. Millennium Management LLC boosted its stake in shares of PetIQ by 476.4% during the 2nd quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock valued at $10,731,000 after buying an additional 402,057 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of PetIQ during the 2nd quarter valued at $3,164,000. Dimensional Fund Advisors LP increased its stake in shares of PetIQ by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock worth $21,461,000 after acquiring an additional 132,450 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in PetIQ by 11.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after acquiring an additional 108,870 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

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.