PetIQ (NASDAQ:PETQ) Cut to Hold at ValuEngine

PetIQ (NASDAQ:PETQ) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

Several other equities analysts have also recently weighed in on the stock. Guggenheim started coverage on shares of PetIQ in a research note on Thursday, May 23rd. They issued a “buy” rating and a $35.00 target price for the company. Zacks Investment Research cut shares of PetIQ from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BidaskClub cut shares of PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $40.71.

Shares of PETQ traded down $0.91 during mid-day trading on Thursday, hitting $32.53. 262,926 shares of the company’s stock were exchanged, compared to its average volume of 359,782. The firm has a market capitalization of $917.35 million, a P/E ratio of 26.02, a PEG ratio of 1.85 and a beta of 2.06. PetIQ has a 52 week low of $21.29 and a 52 week high of $43.93. The stock has a 50-day moving average of $33.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.51 and a current ratio of 2.89.

PetIQ (NASDAQ:PETQ) last released its earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.19. PetIQ had a net margin of 0.51% and a return on equity of 9.47%. The business had revenue of $148.44 million during the quarter, compared to analysts’ expectations of $139.03 million. On average, equities research analysts anticipate that PetIQ will post 0.74 EPS for the current year.

In related news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $35.85, for a total value of $717,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Nathan Clarke purchased 31,031 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average cost of $28.12 per share, with a total value of $872,591.72. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 120,291 shares of company stock valued at $3,676,691. 23.79% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in PetIQ by 115.3% in the first quarter. PNC Financial Services Group Inc. now owns 947,727 shares of the company’s stock valued at $29,768,000 after acquiring an additional 507,524 shares during the last quarter. BlackRock Inc. grew its position in PetIQ by 46.5% in the fourth quarter. BlackRock Inc. now owns 1,343,674 shares of the company’s stock valued at $31,536,000 after acquiring an additional 426,190 shares during the last quarter. Janus Henderson Group PLC grew its position in PetIQ by 32.1% in the second quarter. Janus Henderson Group PLC now owns 973,191 shares of the company’s stock valued at $32,076,000 after acquiring an additional 236,405 shares during the last quarter. Hodges Capital Management Inc. bought a new position in PetIQ in the first quarter valued at about $3,392,000. Finally, Boston Partners bought a new position in PetIQ in the first quarter valued at about $3,108,000. 89.28% of the stock is owned by institutional investors and hedge funds.

About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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Analyst Recommendations for PetIQ (NASDAQ:PETQ)

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