Brokerages Set PetMed Express, Inc. (PETS) Target Price at $42.00
Shares of PetMed Express, Inc. (NASDAQ:PETS) have received a consensus rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $42.00.
Several analysts have commented on the stock. ValuEngine downgraded shares of PetMed Express from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Credit Suisse Group restated an “underperform” rating and set a $19.00 target price on shares of PetMed Express in a report on Monday, October 2nd. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a report on Friday, October 27th. Craig Hallum reiterated a “hold” rating and issued a $40.00 price objective (down from $43.00) on shares of PetMed Express in a report on Monday, August 21st. They noted that the move was a valuation call. Finally, Northcoast Research upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Monday, July 24th.
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Shares of PetMed Express (NASDAQ:PETS) traded up $0.79 during mid-day trading on Tuesday, reaching $37.55. 267,622 shares of the company’s stock traded hands, compared to its average volume of 660,968. The firm has a market cap of $760.51, a P/E ratio of 24.77, a P/E/G ratio of 2.23 and a beta of 1.09. PetMed Express has a 52-week low of $19.21 and a 52-week high of $50.90.
PetMed Express (NASDAQ:PETS) last announced its earnings results on Monday, October 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.30 by $0.13. The firm had revenue of $66.70 million for the quarter, compared to the consensus estimate of $63.41 million. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. analysts forecast that PetMed Express will post 1.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. PetMed Express’s dividend payout ratio (DPR) is presently 53.69%.
In other news, Director Ronald J. Korn sold 1,000 shares of PetMed Express stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the sale, the director now directly owns 73,833 shares in the company, valued at $2,626,239.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PETS. Acrospire Investment Management LLC acquired a new position in PetMed Express during the second quarter worth $110,000. Pinebridge Investments L.P. increased its holdings in PetMed Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after buying an additional 27 shares during the last quarter. Sei Investments Co. increased its holdings in PetMed Express by 50,142.9% during the third quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock worth $117,000 after buying an additional 3,510 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in PetMed Express during the third quarter worth $149,000. Finally, Fred Alger Management Inc. acquired a new position in PetMed Express during the second quarter worth $162,000. Institutional investors and hedge funds own 81.30% of the company’s stock.
About PetMed Express
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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