PetIQ, Inc. (PETQ) Shares Up -8.4%

Shares of PetIQ, Inc. (NASDAQ:PETQ) shot up 8.4% during trading on Tuesday . The company traded as high as $19.21 and last traded at $18.04. 1,340,700 shares traded hands during trading, an increase of 399% from the average session volume of 268,809 shares. The stock had previously closed at $19.70.

A number of brokerages recently commented on PETQ. Jefferies Group LLC began coverage on PetIQ in a report on Tuesday, August 15th. They set a “hold” rating and a $25.00 price target on the stock. Oppenheimer Holdings, Inc. began coverage on PetIQ in a report on Tuesday, August 15th. They set an “outperform” rating and a $28.00 price target on the stock. SunTrust Banks, Inc. began coverage on PetIQ in a report on Tuesday, August 15th. They set a “buy” rating and a $28.00 price target on the stock. William Blair began coverage on PetIQ in a report on Tuesday, August 15th. They set an “outperform” rating on the stock. Finally, Raymond James Financial, Inc. began coverage on PetIQ in a report on Tuesday, August 15th. They set an “outperform” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. PetIQ has a consensus rating of “Buy” and an average price target of $27.20.

The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19.

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC bought a new stake in shares of PetIQ in the third quarter valued at $2,162,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of PetIQ in the third quarter valued at $1,856,000. Emerald Advisers Inc. PA bought a new stake in shares of PetIQ in the third quarter valued at $2,498,000. Monarch Partners Asset Management LLC bought a new stake in shares of PetIQ in the third quarter valued at $1,892,000. Finally, Eos Management L.P. bought a new stake in shares of PetIQ in the third quarter valued at $143,836,000. Hedge funds and other institutional investors own 1.94% of the company’s stock.

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About PetIQ

PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.

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