PetIQ Inc (PETQ) Expected to Post Quarterly Sales of $125.09 Million

Analysts predict that PetIQ Inc (NASDAQ:PETQ) will report $125.09 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for PetIQ’s earnings, with estimates ranging from $121.10 million to $128.40 million. PetIQ posted sales of $60.55 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 106.6%. The company is expected to issue its next quarterly earnings report on Monday, November 5th.

On average, analysts expect that PetIQ will report full-year sales of $502.22 million for the current year, with estimates ranging from $495.10 million to $505.30 million. For the next financial year, analysts forecast that the business will report sales of $584.15 million, with estimates ranging from $550.00 million to $604.57 million. Zacks’ sales calculations are an average based on a survey of research firms that cover PetIQ.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Tuesday, August 14th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $171.10 million during the quarter, compared to analyst estimates of $148.48 million. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The firm’s revenue for the quarter was up 96.2% compared to the same quarter last year.

Several research firms have recently commented on PETQ. BidaskClub raised PetIQ from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. ValuEngine raised PetIQ from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Jefferies Financial Group upped their target price on PetIQ from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, July 2nd. Oppenheimer upped their target price on PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, October 5th. Finally, CL King began coverage on PetIQ in a report on Friday, September 28th. They set a “buy” rating and a $49.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $40.67.

NASDAQ:PETQ opened at $34.05 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 88.49, a P/E/G ratio of 2.07 and a beta of 0.43. PetIQ has a 52 week low of $17.03 and a 52 week high of $43.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90.

In related news, CEO Mccord Christensen sold 15,474 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $28.02, for a total value of $433,581.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $37.15, for a total value of $68,312,757.40. The disclosure for this sale can be found here. Insiders sold a total of 3,069,977 shares of company stock valued at $113,988,145 over the last three months. Corporate insiders own 45.26% of the company’s stock.

A number of hedge funds have recently modified their holdings of PETQ. Wasatch Advisors Inc. grew its holdings in PetIQ by 452.1% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,944,321 shares of the company’s stock worth $52,224,000 after buying an additional 1,592,157 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in PetIQ by 571.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 940,000 shares of the company’s stock worth $25,248,000 after purchasing an additional 800,000 shares during the period. Pembroke Management LTD acquired a new stake in PetIQ in the second quarter worth approximately $18,637,000. Massachusetts Financial Services Co. MA lifted its position in PetIQ by 89.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 576,968 shares of the company’s stock worth $15,497,000 after purchasing an additional 272,588 shares during the period. Finally, Redwood Investments LLC lifted its position in PetIQ by 55.5% in the first quarter. Redwood Investments LLC now owns 749,611 shares of the company’s stock worth $19,940,000 after purchasing an additional 267,430 shares during the period. 74.14% of the stock is owned by institutional investors and hedge funds.

PetIQ Company Profile

PetIQ, Inc operates as a pet health and wellness company. It provides 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. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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