PetIQ (NASDAQ:PETQ) Sets New 1-Year High at $30.53

Shares of PetIQ, Inc. (NASDAQ:PETQ) hit a new 52-week high on Wednesday . The company traded as high as $30.53 and last traded at $30.45, with a volume of 2113977 shares trading hands. The stock had previously closed at $20.57.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of PetIQ in a report on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $29.00.

PetIQ Stock Up 48.0 %

The company has a quick ratio of 1.25, a current ratio of 2.42 and a debt-to-equity ratio of 1.84. The stock has a market cap of $905.65 million, a PE ratio of 138.27 and a beta of 1.71. The business has a 50 day moving average price of $21.74 and a 200 day moving average price of $19.18.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, May 8th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. PetIQ had a return on equity of 13.33% and a net margin of 0.66%. The firm had revenue of $308.44 million for the quarter, compared to the consensus estimate of $302.16 million. Equities research analysts expect that PetIQ, Inc. will post 1.1 EPS for the current fiscal year.

Insider Transactions at PetIQ

In other news, Director Scott Huff sold 12,117 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total value of $268,876.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.62% of the company’s stock.

Hedge Funds Weigh In On PetIQ

A number of hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of PetIQ by 86.2% in the second quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after purchasing an additional 579 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of PetIQ in the fourth quarter valued at approximately $35,000. First Horizon Advisors Inc. acquired a new stake in shares of PetIQ in the second quarter valued at approximately $36,000. FinTrust Capital Advisors LLC increased its holdings in shares of PetIQ by 50.2% in the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after purchasing an additional 875 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in PetIQ during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.