SunTrust Banks Comments on PetIQ Inc’s FY2018 Earnings (PETQ)
PetIQ Inc (NASDAQ:PETQ) – Research analysts at SunTrust Banks raised their FY2018 earnings estimates for PetIQ in a report released on Monday. SunTrust Banks analyst W. Chappell now anticipates that the company will post earnings of $0.99 per share for the year, up from their previous forecast of $0.82.
A number of other analysts have also commented on the company. Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday. Jefferies Group restated a “buy” rating and issued a $27.00 price target on shares of PetIQ in a report on Monday. Seven analysts have rated the stock with a buy rating, PetIQ has an average rating of “Buy” and a consensus target price of $26.83.
PetIQ (NASDAQ PETQ) traded up $0.51 during mid-day trading on Tuesday, reaching $21.88. The company’s stock had a trading volume of 434,500 shares, compared to its average volume of 250,980. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 6.83. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23.
Several institutional investors have recently modified their holdings of PETQ. Highbridge Capital Management LLC acquired a new stake in shares of PetIQ in the third quarter valued at about $5,578,000. Alyeska Investment Group L.P. acquired a new stake in shares of PetIQ in the third quarter valued at about $2,647,000. JW Asset Management LLC acquired a new stake in shares of PetIQ in the third quarter valued at about $542,000. California State Teachers Retirement System acquired a new stake in shares of PetIQ in the third quarter valued at about $320,000. Finally, Pier Capital LLC acquired a new stake in shares of PetIQ in the third quarter valued at about $5,842,000. Institutional investors own 56.49% of the company’s stock.
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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