PetIQ, Inc. (NASDAQ:PETQ) Given Consensus Rating of “Moderate Buy” by Analysts

PetIQ, Inc. (NASDAQ:PETQ) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.25.

A number of analysts have recently issued reports on PETQ shares. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of PetIQ in a report on Friday, May 10th. Finally, Truist Financial downgraded shares of PetIQ from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $31.00 in a report on Thursday, August 8th.

Insiders Place Their Bets

In other PetIQ news, Director Scott Huff sold 12,117 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $22.19, for a total value of $268,876.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PetIQ

Several hedge funds and other institutional investors have recently modified their holdings of PETQ. Tributary Capital Management LLC bought a new position in shares of PetIQ during the second quarter valued at about $11,414,000. Millennium Management LLC raised its stake in shares of PetIQ by 476.4% during the second quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock valued at $10,731,000 after acquiring an additional 402,057 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of PetIQ during the second quarter valued at about $3,164,000. Dimensional Fund Advisors LP raised its stake in shares of PetIQ by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after acquiring an additional 132,450 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of PetIQ by 11.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after buying an additional 108,870 shares during the period. 94.99% of the stock is owned by institutional investors.

PetIQ Stock Up 0.1 %

PETQ opened at $30.55 on Monday. PetIQ has a one year low of $15.09 and a one year high of $30.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The firm has a market capitalization of $913.14 million, a P/E ratio of 138.87 and a beta of 1.71. The company has a fifty day moving average price of $24.98 and a 200-day moving average price of $20.76.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company had revenue of $328.90 million during the quarter, compared to the consensus estimate of $330.14 million. During the same period in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that PetIQ will post 1.12 earnings per share for the current fiscal year.

About PetIQ

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 sells 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 third-party branded products for dogs and cats.