Zacks Investment Research cut shares of PetIQ (NASDAQ:PETQ) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “PetIQ, Inc. is a pet medication and wellness company. Its product consists of Rx Medications, OTC Medications and Supplies, Health and Wellness Products. The Company serves retail stores across the mass, club, grocery, pharmacy and e-commerce channels. PetIQ, Inc. is based in Eagle, United States. “

A number of other brokerages also recently commented on PETQ. BidaskClub raised shares of Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Guggenheim reaffirmed a buy rating and set a $95.00 price objective (up from $90.00) on shares of VF in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. PetIQ presently has an average rating of Buy and a consensus target price of $40.71.

PetIQ stock opened at $34.44 on Wednesday. The stock has a 50 day moving average price of $30.42. The stock has a market capitalization of $971.24 million, a P/E ratio of 23.59, a P/E/G ratio of 1.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.51 and a current ratio of 2.89. PetIQ has a fifty-two week low of $21.29 and a fifty-two week high of $43.93.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.19. PetIQ had a net margin of 0.51% and a return on equity of 9.47%. The firm had revenue of $148.44 million for the quarter, compared to the consensus estimate of $139.03 million. As a group, research analysts predict that PetIQ will post 0.74 earnings per share for the current fiscal year.

In related news, Director James Nathan Clarke acquired 31,031 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average cost of $28.12 per share, with a total value of $872,591.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Will Santana sold 20,000 shares of PetIQ stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $34.07, for a total transaction of $681,400.00. The disclosure for this sale can be found here. Insiders have sold 120,291 shares of company stock worth $3,575,091 over the last ninety days. 23.79% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. increased its holdings in PetIQ by 14.2% in the 2nd quarter. Zions Bancorporation N.A. now owns 7,700 shares of the company’s stock valued at $254,000 after buying an additional 955 shares during the period. Advisory Services Network LLC grew its holdings in shares of PetIQ by 26.4% in the 1st quarter. Advisory Services Network LLC now owns 20,200 shares of the company’s stock worth $634,000 after purchasing an additional 4,225 shares during the last quarter. Formula Growth Ltd. grew its holdings in shares of PetIQ by 20.0% in the 1st quarter. Formula Growth Ltd. now owns 60,000 shares of the company’s stock worth $1,885,000 after purchasing an additional 10,000 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of PetIQ in the 1st quarter worth about $950,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of PetIQ by 115.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 947,727 shares of the company’s stock worth $29,768,000 after purchasing an additional 507,524 shares during the last quarter. Hedge funds and other institutional investors own 91.87% of the company’s stock.

About PetIQ

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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