BidaskClub upgraded shares of PetIQ (NASDAQ:PETQ) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised PetIQ from a sell rating to a hold rating in a research note on Wednesday, January 8th. Raymond James reaffirmed a buy rating on shares of PetIQ in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PetIQ has a consensus rating of Buy and a consensus price target of $37.25.

Shares of PETQ traded up $0.69 during mid-day trading on Tuesday, reaching $30.33. 28,785 shares of the company were exchanged, compared to its average volume of 296,678. PetIQ has a 52 week low of $21.28 and a 52 week high of $36.33. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.45 and a current ratio of 2.67. The stock has a market capitalization of $837.98 million, a PE ratio of 24.28, a PEG ratio of 0.75 and a beta of 1.94. The business has a 50 day simple moving average of $24.65 and a two-hundred day simple moving average of $28.15.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.09. PetIQ had a positive return on equity of 9.77% and a negative net margin of 0.59%. The company had revenue of $186.03 million during the quarter, compared to the consensus estimate of $173.21 million. On average, analysts predict that PetIQ will post 0.98 EPS for the current year.

In other PetIQ news, CFO John Newland bought 44,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $22.28 per share, with a total value of $980,320.00. Following the completion of the purchase, the chief financial officer now directly owns 44,000 shares of the company’s stock, valued at approximately $980,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.79% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intrinsic Edge Capital Management LLC acquired a new stake in PetIQ in the second quarter valued at approximately $12,569,000. Waddell & Reed Financial Inc. grew its stake in PetIQ by 11.4% in the second quarter. Waddell & Reed Financial Inc. now owns 1,780,931 shares of the company’s stock valued at $58,699,000 after acquiring an additional 182,205 shares during the period. Russell Investments Group Ltd. boosted its position in shares of PetIQ by 32.4% during the third quarter. Russell Investments Group Ltd. now owns 556,036 shares of the company’s stock valued at $15,154,000 after buying an additional 136,196 shares during the last quarter. BlackRock Inc. boosted its position in shares of PetIQ by 9.4% during the second quarter. BlackRock Inc. now owns 1,546,873 shares of the company’s stock valued at $50,984,000 after buying an additional 133,368 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of PetIQ by 12.2% during the second quarter. Vanguard Group Inc. now owns 925,017 shares of the company’s stock valued at $30,489,000 after buying an additional 100,260 shares during the last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.

PetIQ Company Profile

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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