PetIQ (NASDAQ:PETQ) Stock Price Up 5.3%

PetIQ Inc (NASDAQ:PETQ) shares rose 5.3% during mid-day trading on Friday . The stock traded as high as $32.41 and last traded at $32.16, approximately 608,763 shares changed hands during trading. An increase of 42% from the average daily volume of 429,628 shares. The stock had previously closed at $30.54.

PETQ has been the topic of several research analyst reports. BidaskClub cut PetIQ from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine cut PetIQ from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Guggenheim initiated coverage on PetIQ in a research note on Thursday, May 23rd. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. PetIQ has an average rating of “Buy” and a consensus target price of $41.33.

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 1.51. The company has a 50-day simple moving average of $34.16 and a two-hundred day simple moving average of $30.51. The stock has a market capitalization of $952.07 million, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.26 and a beta of 2.06.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.35. PetIQ had a return on equity of 10.17% and a net margin of 0.68%. The firm had revenue of $220.60 million for the quarter, compared to analyst estimates of $193.89 million. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Research analysts anticipate that PetIQ Inc will post 1.07 EPS for the current year.

In other PetIQ news, insider Will Santana sold 20,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $28.16, for a total value of $563,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 110,291 shares of company stock worth $3,436,491 over the last ninety days. 23.79% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in PetIQ by 33.4% in the 4th quarter. Northern Trust Corp now owns 197,947 shares of the company’s stock valued at $4,645,000 after acquiring an additional 49,582 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PetIQ by 226.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 95,881 shares of the company’s stock valued at $2,250,000 after acquiring an additional 66,498 shares during the last quarter. Geode Capital Management LLC increased its holdings in PetIQ by 49.4% in the 4th quarter. Geode Capital Management LLC now owns 175,379 shares of the company’s stock valued at $4,116,000 after acquiring an additional 58,000 shares during the last quarter. Principal Financial Group Inc. bought a new stake in PetIQ in the 4th quarter valued at $539,000. Finally, Bank of America Corp DE increased its holdings in PetIQ by 61.9% in the 4th quarter. Bank of America Corp DE now owns 91,609 shares of the company’s stock valued at $2,151,000 after acquiring an additional 35,040 shares during the last quarter. 89.80% of the stock is currently owned by hedge funds and other institutional investors.

About PetIQ (NASDAQ:PETQ)

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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