PetIQ (PETQ) Downgraded by Zacks Investment Research
PetIQ (NASDAQ:PETQ) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Separately, Jefferies Group reiterated a “buy” rating and issued a $27.00 target price on shares of PetIQ in a report on Monday, January 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.83.
PetIQ (NASDAQ PETQ) traded up $0.94 on Friday, reaching $23.50. 326,100 shares of the company’s stock traded hands, compared to its average volume of 331,711. The company has a current ratio of 6.83, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $515.99 and a price-to-earnings ratio of -87.04. PetIQ has a 12 month low of $17.03 and a 12 month high of $28.23.
PetIQ (NASDAQ:PETQ) last posted its earnings results on Monday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.15. research analysts forecast that PetIQ will post 0.76 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eos Management L.P. acquired a new stake in PetIQ in the third quarter worth $143,836,000. Wasatch Advisors Inc. acquired a new stake in shares of PetIQ during the third quarter worth $7,229,000. Cortina Asset Management LLC acquired a new stake in shares of PetIQ during the third quarter worth $5,956,000. Pier Capital LLC acquired a new stake in shares of PetIQ during the third quarter worth $5,842,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of PetIQ during the third quarter worth $5,578,000. Institutional investors own 56.49% of the company’s stock.
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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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