PetIQ (NASDAQ:PETQ) Posts Earnings Results

PetIQ (NASDAQ:PETQGet Rating) announced its earnings results on Wednesday. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.25, MarketWatch Earnings reports. PetIQ had a positive return on equity of 10.90% and a negative net margin of 1.56%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $269.45 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year.

Shares of PETQ stock traded up $0.40 during trading hours on Friday, reaching $18.00. The company had a trading volume of 379,815 shares, compared to its average volume of 241,215. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.06 and a current ratio of 3.04. The stock has a fifty day moving average of $22.35 and a 200-day moving average of $21.90. The company has a market capitalization of $529.38 million, a price-to-earnings ratio of -35.29, a PEG ratio of 1.04 and a beta of 1.55. PetIQ has a 12-month low of $16.90 and a 12-month high of $44.01.

A number of brokerages have commented on PETQ. Truist Financial reduced their target price on PetIQ from $35.00 to $30.00 in a report on Tuesday, March 22nd. Zacks Investment Research upgraded PetIQ from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Raymond James dropped their price target on PetIQ from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.20.

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its position in PetIQ by 433.2% in the third quarter. BNP Paribas Arbitrage SA now owns 4,847 shares of the company’s stock worth $121,000 after acquiring an additional 3,938 shares during the period. Invesco Ltd. grew its position in PetIQ by 10.5% in the third quarter. Invesco Ltd. now owns 27,090 shares of the company’s stock worth $676,000 after acquiring an additional 2,574 shares during the period. LPL Financial LLC grew its position in PetIQ by 3.6% in the fourth quarter. LPL Financial LLC now owns 30,034 shares of the company’s stock worth $682,000 after acquiring an additional 1,051 shares during the period. California State Teachers Retirement System grew its position in PetIQ by 3.9% in the fourth quarter. California State Teachers Retirement System now owns 35,301 shares of the company’s stock worth $802,000 after acquiring an additional 1,309 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of PetIQ by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 37,288 shares of the company’s stock worth $847,000 after buying an additional 10,247 shares during the period. Institutional investors own 97.45% of the company’s stock.

PetIQ Company Profile (Get Rating)

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 include 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 distributes third-party branded medications.

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Earnings History for PetIQ (NASDAQ:PETQ)

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