Shares of PetIQ, Inc. (NASDAQ:PETQ) rose 8.4% on Tuesday . The stock traded as high as $19.21 and last traded at $18.04. Approximately 1,340,700 shares changed hands during mid-day trading, an increase of 399% from the average daily volume of 268,809 shares. The stock had previously closed at $19.70.

PETQ has been the topic of several research reports. CIBC initiated coverage on PetIQ in a report on Tuesday, August 15th. They issued an “outperform” rating and a $28.00 target price on the stock. Raymond James Financial, Inc. assumed coverage on PetIQ in a report on Tuesday, August 15th. They issued an “outperform” rating and a $26.00 target price on the stock. William Blair assumed coverage on PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating on the stock. SunTrust Banks, Inc. assumed coverage on PetIQ in a research note on Tuesday, August 15th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Jefferies Group LLC increased their price objective on PetIQ from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.20.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 6.83.

Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. acquired a new stake in PetIQ during the 3rd quarter valued at approximately $131,000. Wells Fargo & Company MN acquired a new position in shares of PetIQ in the 3rd quarter worth approximately $204,000. California State Teachers Retirement System acquired a new position in shares of PetIQ in the 3rd quarter worth approximately $320,000. Schwab Charles Investment Management Inc. acquired a new position in shares of PetIQ in the 3rd quarter worth approximately $344,000. Finally, New York State Common Retirement Fund acquired a new position in shares of PetIQ in the 3rd quarter worth approximately $448,000. Hedge funds and other institutional investors own 1.94% of the company’s stock.

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About PetIQ

PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.

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