PetMed Express, Inc. (PETS) Downgraded by ValuEngine
PetMed Express, Inc. (NASDAQ:PETS) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Several other research firms have also recently issued reports on PETS. Credit Suisse Group restated an “underperform” rating and set a $19.00 price objective on shares of PetMed Express in a research report on Monday. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. Northcoast Research upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Monday, July 24th. Zacks Investment Research lowered shares of PetMed Express from a “strong-buy” rating to a “hold” rating in a report on Monday, September 25th. Finally, Sidoti upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. PetMed Express has an average rating of “Hold” and a consensus target price of $39.60.
Shares of PetMed Express (NASDAQ:PETS) traded up 3.14% during trading on Monday, reaching $34.19. 528,367 shares of the company traded hands. PetMed Express has a 52 week low of $18.90 and a 52 week high of $50.90. The stock has a market capitalization of $704.45 million, a PE ratio of 26.30 and a beta of 1.03. The firm has a 50 day moving average of $37.60 and a 200 day moving average of $34.59.
PetMed Express (NASDAQ:PETS) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The business had revenue of $79.66 million for the quarter, compared to analyst estimates of $77.32 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts predict that PetMed Express will post $1.44 EPS for the current year.
In related news, CFO Bruce S. Rosenbloom sold 6,833 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.18, for a total transaction of $342,879.94. Following the completion of the sale, the chief financial officer now directly owns 18,534 shares of the company’s stock, valued at approximately $930,036.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald J. Korn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.18, for a total transaction of $240,900.00. Following the completion of the sale, the director now owns 67,333 shares in the company, valued at $3,244,103.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,333 shares of company stock worth $949,730. Corporate insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in PetMed Express by 11.8% during the first quarter. Renaissance Technologies LLC now owns 1,786,315 shares of the company’s stock worth $35,976,000 after buying an additional 188,615 shares during the period. Vanguard Group Inc. increased its position in shares of PetMed Express by 21.0% during the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after acquiring an additional 225,474 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PetMed Express by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock valued at $34,940,000 after acquiring an additional 65,932 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of PetMed Express during the second quarter valued at about $18,691,000. Finally, Uniplan Investment Counsel Inc. increased its position in shares of PetMed Express by 5.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 441,393 shares of the company’s stock valued at $8,889,000 after acquiring an additional 22,443 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors.
PetMed Express Company Profile
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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